I talked to Micah and my Dad about the credit situation today. They both supported me in this idea—apply for a card with no annual fee. Use said card to pay cell phone bill each month and then pay it off 2 days later or whenever the charge shows up. Don’t use it for anything else.
Only using it for one thing and using it routinely for that will make me less succeptible to the “Oh crap” thing where the billing cycle gets changed or I forget how much I charged or anything. Less room for error.
So this is specifically for credit history, not for earning rewards or anything.
What I’m aiming for is to solve the problem which Jacob described in a comment:
Before I decided to start a credit history, I had to jump through all sorts of hoops (fax in a copy of SS card, call them, … ) to open mutual funds, bank accounts, etc. Now the procedure is quite transparent.
Too many hoops. I don’t want the history for loans, I want it so that I can function better.
I applied—but does anyone want to guess what happened? Yep, they told me they’d have to get back to me about it. Sounds about right.
I’ll keep you all updated on how this goes, credit history, etc.