I'm 18 as of today. I went online to B.O.A and created a checking account. . .
It will be like any other checking account.
How can I build credit? What are other ways besides checking accounts that help build credit?

I want to get a contract phone. The phone I have right now is prepaid and not to mention a P.O.S. Since I don't have any credit, it would be required for me to pay $200-300 for a down payment on the contract phone… and I just don't have it…
opening up a checking card is good but to build credit you need to get a line of credit: credit card, car loans, etc.

Now a days it is harder to get a credit card so your best bet is to go to B of A and ask for a secured credit card and make sure that you dont spend more than 35% of your credit limit that they give you. Make sure that you pay it off every month and you are never late. If you can't pay off 100%, make sure you pay minimum 10% or higher. This takes time but you are still young… You continue to do this, you will have a great credit score and great credit history.

In the future you need to buy a home, you will need to show 4 lines of credit so make sure you have that.

ie: 1 car loan, 3 credit cards. Even if you dont use 2 of the credit cards, dont close them. Keep it. The one that you use, every year, ask for a credit limit increase. The hire you get to, the better it will be for you to purchase bigger things like a home.

Good Luck and be responsible!
Checking accounts do not build credit

Loans, credit cards and mortgages build credit.

If you do not have $200 to $300 for a down payment on a contract phone, you will not be getting it unless your parents cosign for you or get the contract in their name. Simple as that.

If you are a student you can try to get a student credit card, but most likely, you are going to have to settle for a secured credit card to start building a credit profile. That means you need at least a couple hundred to put in a savings account that will be your limit and collateral on the secured card.
Checking accounts do not build credit.

Your credit is built only by things that involve you owing money or being allowed to borrow money. Examples include credit cards, car loans, home loans, etc. If you have no credit, then you will not be able to obtain a loan. The only way for you to build credit is probably to deposit money at a bank that offers "secured" credit cards to depositors who have no credit, obtain a "secured" credit card from that bank, and be sure to make all required payments on that card on time. This will build your credit so that you can obtain regular (unsecured) cards or cell phone contracts (without deposits) later.
opening a chequing account doesn't help build credit because chequing / saving accounts are not credit products. and since they're not they don't do nothing.

however, it helps the bank determine your credibility when you have open chequing or savings account with them. Indicating you want a long-term banking relationship with them. generally they more likely to open a credit account with the individual when he has an open chequing account or something of that sort as compared to an individual that has no chequing account whatsoever.

start out with a credit card with any bank you want…capital one or whichever. pay it regularly, even if monthly payments and keep doing that for a long period of time. generally a score is generated in next 6 months to 1 year with that open credit card account.
A good way to build credit is to get a credit card. You will need someone with good credit to co-sign on the credit card. Be very careful with this card. You must keep track of your income and your credit card expenses so that you can pay off the balance in full when it comes due.

You do not want to get into the habit of just making the minimum payment every month. If you do that, you will have to pay interest. Once the minimum payment gets to be really high, you will be forced to make that minimum payment or your credit score will take a major hit.
First of all cell phone companies and bank accounts do not show on credit reports.

Second I must agree with the previous poster get a credit card, use the card to buy every day things, never exceed 30% of your credit limit in any given month and pay it off in full before the due date.
You build credit buy borrowing (car loan, credit cards) and then paying on time all the time. This is the only way to build credit. Put the cell phone on the credit card and pay like $50 a month on it.
happy birthdayyy!!!