Getting a credit card?

[Sam Bedich]

I am 18 with no credit score. My dad is against me getting a credit card knowing the high interest rates it can cause. Is there a way to build your credit score without a credit card? The reason why I want a good credit score is so I can have a low interest rate on my mortgages when I apply for one for a rental property.

[Matt Hurley]

Credit cards are a fantastic way to build your score, when used appropriately. Your best bet is to spend some time budgeting, find out how much you spend each month and how much you're making. If you're making more than you spend, then put every transaction you can on the credit card then (MOST importantly) pay that entire balance off at the end of every month. By doing this you will not get charged an interest rate and you'll be building your credit score. 

Keep an active and keen eye on your balance, and don't spend more than you make.