Thread: Lack of Credit - My Demise

I have a perfect concept for a new online venture.

Anyway, I've created all the html, but I've hit a road block. I don't have any line of credit - i.e. credit card, and paypal.

My mother has horrible money management so her multiple credit cards are maxed out. (I was lucky enough to meet with a broker who opened a dual investment account in his name for me).

How can I get around this somewhat mundane problem?

First off, at 15, WOW! I'm impressed. Keep doing what you're doing!

As for the credit, I would assume you don't have any friends 18 or older? Ask them to fund for an additional interest % on top of the finance charges.

Being under 18 doesn't mean you can't get a credit card either. CC companies make mistakes just like anything else. I had two cards at 16. One by mistake and one cosigned by my mom. Even if your moms are tapped, you may be able to apply for a new one in both your names. If that doesn't work, I'm sure you can get a secured card to establish yourself or your mother.

I believe a CC and a home phone number will get you a paypal account. Or link to checking.

We had done that once previously (gotten a credit card in both names), but when I received my card the name was spelled incorrectly.

I didn't realize that I could still have one even though my mother has horrible credit.

I'll be looking into that, thank you!

270k!?! You mean $22,120....major difference in coin there, but kidgas is right about the loan.

Originally Posted by kidgas

5,000 shares * 54.24 per share = $271,200 but I think I see that he meant he bought $5000 in shares (or 500 shares total). Yes, big difference. I'm pretty sure he meant the latter. Thanks, mtnman.

Yes, sorry for the confusion..I bought 500 shares at 10$ apiece.

I'm really enjoying all the wealth of comments, I truly appreciate it.