Question on a loan?

[Mike Kruser]

Im 19y/o I have a Credit-card since i was 18y/o and have yet to miss a payment so my question is can I get a loan with 10% down? Or is my age/credit history to young?

Thanks, Mike

[Bill Gulley]

Hi, it's unlawful for a lender to discriminate because of age, except you must be old enough to contract, looks like you made that one.

They do discriminate against those with poor or insufficient credit histories. You'll need some other credit history, IMO, besides one year on a credit card. Maybe try for a car loan next. What ever you do don't borrow more than you can pay back, and as I told my son, in half the time required (not saying payoff bills in half the time), what you can afford to do. Also, rent payments are a big thing that lenders look at, so if your are renting make sure thoses payments are on time. Pay with a check, not money orders, so you can show when your checks were deposited by a landlord, that is the proof for your credit history. Good luck, Bill