Establishing your credit

You are ready to start establishing your credit, you are in College, knows a bit about economics and want to show off to your friends.First be very careful here, because if you start the wrong way, you will regret in the future. You need to be eighteen years old to have a credit card (Credit Cards are binding contracts and you need to have the legal age to be eligible for a credit card)
But there are definitely methods around it.
Your parents may arrange an account with their bank and have co-sign for you. but these cards are known as secure credit cards, it almost works like a savings account, you deposit a certain amount, for example $500 and then you use it, once you used some of your balance you want to pay it again to top it off.
Now if you are over the age of 18, here is how you start establishing your credit the right way.
1. The easiest way
If either your parents or a family member trust you and they already have good credit established (and I want to emphasize GOOD) you could "piggyback" on their account. This is the easiest and quickest way to start establishing your credit. The problem is, that person could not trust you sufficient to give you some credit juice, or they might not have good credit.(which is very common in this economy)
2. The do it yourself way.
Now you won't be able to get a credit card if you don't have some credit already, don't tried because is not worth it. (remember, every time you apply for credit you will lose 2 points out of your FICO score, every inquire of credit made by you will stay on your credit report for one year, and creditors will frown upon one too many inquires) Now that you know that, don't waste your time applying for credit cards, and also don't waste your applying for store cards (they are easier but if you don't have any credit, they will most likely deny your application). The easiest way to go is a Secure credit card, you could go to your local bank, you could go to your parents credit union, or you could simple Google "secure credit card" and you will have a number of choices. start small, $300 will do, you will have to deposit the money into the card and then they will sent you the card. Start using the pre-paid card and badabim badaboom, you are in business. (TIP: Never ever go over the ratio 50% of your credit card balance to your credit limit, if you have a $300 limit on your card do not go over the balance of $150, you want to signal to the Credit scoring companies that you are a responsible consumer.)