Credit History
How do I establish credit?
There are some positive steps you can take to build or establish your credit history:
- Open a bank account – savings or checking.
- Apply for a charge or credit card. Try to get a department store or gas charge card (ones without a Mastercard or Visa logo on the card); these are easier to get than a bank Mastercard or Visa card at first.
- Charge some purchases you know you can afford and make payments on time.
- After a period of time of making payments, say three months or more, apply for a Mastercard or Visa. Check our credit card offers to see which is the best credit card for you.
- Don’t give up if it doesn’t work the first time! It takes time to build a credit history. Just keep paying on time and apply for a credit card again.
If you have trouble qualifying for a charge or credit card, you may want to apply for a secured credit card. These cards have credit limits based on a required deposit made by you into a savings account. You can use the card just as you would any other kind of credit card.
See also:
What is a credit history?
What is a credit rating?
What is a credit score?
Am I qualified for a credit card?
How do I apply for a credit card?
What is a secured credit card?
What do I do if my credit card application is denied?
Last update: 2006-09-25 17:36
Author: BKO
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