how do i build credit?

Answer 1

get an entry-level credit card and use it responsibly. Do not max it out. If you don't have cash for something, don't get it with your card. Pay more than the minnium every month (idealy, pay it off in full). Always make your payments on time.

Borrow a small sum of money from your bank as a personal loan just for the sake of paying it back. Make sure your payments are on time.

Use in-store credit cards, (sears, JC Penny, Target, etc) Pay them off in full every month.

Have a checking and a savings account. Keep a ballance in each. Do not overdraft. Make regular deposits.

Make sure if you borrow larger sums of money that you're insured (if you are unable to work because of injury or illness it will make the payments for you) The same goes for credit cards. If something bad happens the little bit extra that insurance costs is so worth it.

Use a cellphone with a plan instead of a pay-as-you-go phone.

Answer 2

1. Opening a checking account and keeping it clear of overdrawals.
2. Get a credit card, make a decent sized charge and then pay it off over a couple of months. Just make sure that each payment is OVER the minium. Then keep it paid down pretty low or keep it paid off.
3. Take out a loan and then pay it back in payments that are more than the minimum.
4. Purchase a cell phone or similar device that requires regular payments.
5. Put bills in your name (ie. insurance, utilities, car, etc) and make sure that they are never late or unpaid.

Building credit takes time. To begin you might want to purchase a copy of your credit report and score so that you know that every thing being reflected is accurate. False information on your credit report can be bad for your credit rating.

Answer 3

The first step is to open an account with a bank and after a few months you may speak with a personal banker and ask for his or her help so you can get your first credit card. Use your credit card every now and then and make sure that you pay for it on time so you will have a good credit rating.

Answer 4

If you can get a credit card (it's not easy with no credit), start making small enough purchases on it that you can pay them all off when the bill is due. After a few months of that, pay most of the bill, and carry a small balance into the next billing cycle. Pay it at the next bill. This shows that you're capable of carrying a balance (making them money) but still paying your bills.

If you don't qualify on your own for a regualr card, try to get a co-signer, or try Orchard Bank.

Answer 5

Buy things and pay for them on time. Get a credit card and charge something. Then pay it off monthly, on time. Do not pay it off early. Buy a car at a dealership with easy financing and pay for it the same way. Do not get obligated for more than 25% of your income and NEVER pay late. Pretty soon you will have the credit that you dreamed of.

Answer 6

By paying your bills on time, and that doesnt mean paying in the 10 - 15 day grace period after it is due,. Also paying your bills before the due date builds up your credit also.

Answer 7

get a secured line of credit (usually you have to put a deposit on the crd) and then use is sparingly and pay it off every month. The higher your debt to available credit, the lower your score. Never miss a payment, and never use a cash advance on a credit card.

Answer 8

Get a Credit Card first since loans are hard to get if you are building one (like college students or bankruptcy)

Paid all your bills on time and more than just the minimum.
Loans, Car loans apply as well as student loans

Answer 9

If your employeer has a credit union join them and apply for a credit card. Like mystic said a co-signer is a good idea.

Answer 10

Get a store credit card.