Hjm331,
Yes I am actually in the process of trying to rebuild my credit...you are so right, credit is SO VERY important to success in life...I only wish I had learned earlier in my life the truth of that statement. But live and learn right?? :

I joined this site with hopes of gaining knowledge from others who have been where I am and I am so glad I did!! I have already learned alot and it's only been a week...

Happylady, are you in the process of rebuilding your credit? I hope you are because you need credit in the U.S. if you want to make a living.

I was 19 when I got my first cc...it was JcPenny's...I think it was $300 or something like that. Boy did I blow that quick!! I knew absolutely NOTHING about credit and quickly got into trouble...I got a Mervyn's soon after that and then both were overlimit and deliquent within 6 months!! It was all down hill from there...
Then miraculously I got approved for a car loan...only to be repo'd after 18 months...then another repo...
If I had known back then what I know now... :

I was 18 when I got my first card and wasn't ready for it. I do believe that the age limit should be a little higher, but I think that now days young people have many websites that help and they can get information about credit. I was looking on Boeing Employees Credit unions website and they have forums for young adults that teach about credit and managing money.

That's a good point. Another good idea would be to make a mandatory class be taken in high that covers finances and ways to manage money. I took a class in high school that just barely touched on the topic, but maybe one where everyone learned a lot more about credit cards, checking accounts, savings accounts, debt, etc.

I was 18 when I got my first card and wasn't ready for it. I do believe that the age limit should be a little higher, but I think that now days young people have many websites that help and they can get information about credit. I was looking on Boeing Employees Credit unions website and they have forums for young adults that teach about credit and managing money.

I think it is safe to say then, that the majority of people under the age of 21 are just not capable yet of handling credit cards. Sometimes I think the age limit should be raised to at least 25.

I had gotten my credit card when I was 18. I totally abused the privalage as well...and I'm in such bad debt right now I have no idea how to get out of it and get my credit rating back up. When I have kids I'm definitely going to teach them the importance of having a credit card.

I got my first credit card before graduating from high school which would be one year next month. My first card was from Capital One who was brave enough to lend me a credit card without a day of history. That's why I thank them and use their card heavily. It's a good card. They always send me no transaction fee purchase checks which I use to pay my monthly car payment. Thanks Cap1!

I was 19 (01/2007) and it was the Chase Flexible Rewards Visa. I had applied for a Kohl's card when I was 18 but was declined because of no credit history. I didnt know much about cc's until I started working for Citi (even tho CC's were introduced in a class in highschool, I didnt pay attention). I learned alot from them and gave me confidence to apply in 07 becuz I had a much better understanding.

Well at least you had good cards. I had so many (that I did wrong) until I cant remember, but I had more department store cards than anything. I was into the master/visa cards when I was in my early 18-20's, I did not go for them until I was in my mid 20's and I know that I had one secured card Sterlling Bank & Trust who I gave $1k to and I never understood the secured thing because I was paying back so much money, so instead of pif and close, I pif and overcharged, then said goodbye! How come I have to pif and then close, instead of pif, and goodbye. They hit my cr with the total balance like they always had me with a line of credit, NO BUDDIE, I stood in line with my own money!!!!!!!

I was older, I was about 20 or 21. First cc in my own name was Cap 1 and Chase (knowing what I know now, I can't believe Chase was willing to extend me credit!) I was an AU on my hub's Wamu account. But Cap1 had a cl of (I'm not even joking) $75. Chase's cl was $300.
Now I didn't make any mistakes like charge them up because I had heard all the horror stories. What I did do, though, was when I got sick of a card or stopped using it so much, or applied for another one, I would cancel. Sometimes I would jus go on a "No more cc!" tantrum and cancel them all. I never really carried the Wamu around (it was my hub's card), so Chase, Old Navy, and numerous Cap1 were applied for and within 9 months cancelled.
I couldn't understand why my limit was never over $500, why my scores sucked so bad even though I had relatively decent payment (give or take a few 30 days late in '05-06), and why creditors said I didn't have enough credit history.
Anyway, I was still very much in that mentality up to this year. What was different this time around was that I went on the internet and did some research.
Whoops! You are suppose to let your account age. And by now I had already cancelled the Target (regret), Wal-Mart (kinda regret) and Wamu (don't regret at all).
So I was shocked when I applied for and got approved for the two Citis, both over 2k. I then got the Chase (still $500 , I'll do them right this time around), Direct Rewards, and Penneys. And I actually have a Cap1 from last year (my oldest card) that barely escaped cancelling.

And that's my long, drawn out story.

I was 16 and Mervyn's was my first cc. My aunt had me to open this account becasue she needed some work clothes. Like a dummy, I did it, she was the one that filled it out and it was approved right in the store. I did not know anything about credit and I was the one who was stuck with the bill. When I got in my early 20's I began to start credit on my own, but I failed and I tried it again in my late 20's and failed again. I just said forget it, until I was about 32 or 33, that is why I was like, Ok Meya, it is time to get yourself together with the credit thingy. I have been doing just fine ever since.

I think I was about 19, and I totally abused the privilege. I was good about it at first, then I just kept seeing more and more things that I thought I just had to have, and kept telling myself that I would be able to get it all paid off. Eventually I worked myself into horrible debt. No one ever really taught me the basics of owning a credit card. Even though my daughter is only 6, I have already started teaching her the basics of saving money and spending wisely.