I am really MAD. REALLY MAD. ...:-(

It's all about money and risk. I would suggest you get a co-signor to give you a credit boost. If you do that, make sire Or a credit card, which will have a low limit. Us it and pay it off every month to build credit. I couldn't get an unsecured loan until I was in my late 20's. Those are the hardest to get. As for signing up to defend our country, there is no payback or money involved. That is an honorable action from any 18 year old! The only similarity between the two is age. That's not enough to aompare these two situations.

I had the same problem at that age. To get credit you have to have good credit. And to have good credit you have to find somebody who will extend credit to you. We got around it 2 ways. 1) find a department store, such as JC Penney and get a store card. Make some purchases and pay them off. That will help establish credit. 2) save some money up and then open a bank acct where they will give you a credit card because you have a minimum balance. Things have changed in 25 years, so don't know how feasible those things still are. Good luck!

Hi walkthetalk, here is a link for Capital One, look towards the bottom of the page and there is an orange section for people with "Limited Credit History" to apply for a card, sometimes they ask for a deposit and they hold it a while to see if the person pays their bills on time. I hope this helps, I know a few people who started off with "Capital One Bank" and now they have many cards. Good Luck! http://www.capitalone.com/creditcards/products/compare/?linkid=WWW_0608_CARD_TGUNS01_CCPMP_C2_02_T_CCPCP

Sorry you had to go through this with your son but I'm glad you signed for him... Your question is, why is that even necessary and I understand your upset over this! It brings to mind securing your first job when people want experience but no one will give them the chance to get experience....It's a vicious and unfair cycle!!! Anyhow, I live in Canada and am thirty now but I had no trouble when I finished High School attaining a student credit card through Royal Bank Visa...I secured my student loan through Royal Bank also. This was a wonderful start and easy for me to attain and I was able to start building my credit history then. I used the card and payed ff the full balance each month then with no problem...Just wish I could do the same now! So glad your son got what he needed but is he still without a card? I wish him all the best in life as he strikes out on his own! Take Care, ~Heavens~

[i]Hi walk, In our Country, they are still students and still dependent to their parents so, they will not be trusted about lending money not unless they will proceed to the pawnshop! ANyway, I agree with your point![/i]

I know what you mean Governments are so contradicting I live in the UK and our laws are the same there is no consistence.

I don't get it either. If you are old enough to die for your country, you should be allowed to get a loan.

walkthetalk you have raised a really good point. if one is old enough at 18 to join the armed forces. one should be old enough to take out a loan on their own name. but I know its almost impossible for an 18 year old to do that. I wonder if you cosigned a loan that they would give your 18 year old a loan? I was able to do that when I was 18. but again that was a long time ago.

Usually loans given by banks are secured by something, either it me a savings account or other investment account a home or a car. Most 18 year olds do not have any of these things except perhaps a car. They also do not have any previous credit history with which to judge the person, so loaning them a money could be a risk. The best thing you can do is to build up your credit. Store credit cards which I do not normally recommend are usual more lenient and will allow young people to get credit cards. Get just one, charge one thing a month for a couple of months and pay it off each month. That should be enough for you to start to establish some credit history, once you do though don't use those cards any more, the interest rate is rediculas on them. Good luck to you.

I got a contract mobile phone at the age and that was the beginning of a good credit history, not too sure if that works in the U.S though. It is silly as at 18 you are an adult. To outweigh any risk the bank could slightly raise interest rather than just say no to any lending.

Sorry to inform you, but the bank won't let a 25 year old sign a piece of paper to borrow $1000 if they have no credit. Or a 40 year old. That's just the way the credit world works.

I can't say I agree with the military thing, but then I am anti war anyway. However, I do agree with the bank not lending money, especially $1000. 18 year olds are often irresponsible and are the worst at running up all sorts of debts. I wouldn't lend an 18 year old $50, let alone $1000. When I was younger, there was a place you could go and borrow twenty, then thirty, then fifty and so on and if you paid it back you could move up to the next value. You ended up paying back more than just getting it all together but it helps build up credit, and the enterest wasn't bad. I borrow twenty and pay back twenty six and so on. Hopefully that will help.

Ah my dearest friend! That is a question that has been asked by many, at least by me! I also don't get it! I feel the same way! Way can an 18 year old not borrow money from a bank without a parent's permission, buy it's ok for them to sign up to shoot and kill people-beat's the crap out of me! It's ok for them to sign their life away, but not ok for them to get money from the bank~! This world is extremely azz backwards and freaked up to say the least! I know that others have asked the same question, but no one has had the nerve to answer it, least of all the friggin bank!

HI there walkthetalk..Well you are right because I am 18 years old and i needs parents signature and its really not fair at all.I mean we are in our right age but it seems just like the bank is afraid that we will not do our obligation or responsibilites because they don't trust.It just like where are too young for it I mean yeah your right,we need to have first chance.God bless and have a nice day.:-)

Well it's all about money really Walkthetalk the bank is thinking more on the lines on whether they will get back the £1000 investment they are lending you plus interest I suppose, more than how old you are, seeing that you don't have a credit history you are more of a high risk to them I guess, where if you are joining up to be in the army it's just like a normal job you can get and as long as you are of adult age there is no need for you to get consent from your parents. I'm sure when you've had a your own landline or get a few store cards set up and built up a credit score and history they may reconsider their offer and lend you the money at a later stage or time.

hi friend, i fully understand yourself. iam from India here also same rules. what can we do. take care have a nice day.