How do i begin to build credit?

Answer 1

Get a credit card. Apply for a checking account and maybe a savings account as well.

Answer 2

All these answers say to get a credit card. I had a h e l l of a time getting one with no established credit. The best way is to go to your bank put some money into your savings account, then take out a secured credit card (Limit is the amount in your savings account) The secured card will only let you spend the amount in your savings account, and if you can't make a payment on the card, instead of letting the card be paid late, it will take the money out of your account and pay the bill. This not only builds credit, but it builds GOOD credit. Hope you take my advice. Good luck

Answer 3

opening a checking or savings account does absolutely nothing for your credit. Neither does a cell phone (except if you dont pay it, they report you for collections). Belive it or not, neither does getting a card & paying it off every month. That is something you do after being established.

What creditors are loking for is a history of payment. So paying off every month wont do it. Do it over 2 or 3 months. What paying it off does is that it never shows on your credit an amount carried over from the previous month. It will always give you a $0 for high credit amount. So it looks like you have never used the card.

Start with a secured card or small secured loan at your bank or credit union. Make regular payments, on time!

Answer 4

You have to apply and receive credit from a place that reports to the three credit bureaus. You can almost always get a $250 credit card from credit one bank or household finance. Try Aspirecard.com. That is just one way to start building credit. Another is get a co-signer for a car loan.

Answer 5

The only way to "build credit" is to borrow money and make payments on time. The only way to keep a high fico score is to keep borrowing money and keep making payments on time. The only thing you get is debt. Pay as you go. If you live on less than you make you will have money. The only thing you might need to borrow money for is a home loan. You can do that without a fico score. It's called manual underwriting. It's not a sub prime loan. It's the way it was done before the fico score. You can get the lowest interest rates going. Save for a good used cash car. you'll never get ahead with payments. No payments = cash in the bank

Answer 6

Get a credit card and make sure you make your payments regularly and on time, Start out slowly. A good website to go to is www.suzeorman. com I have even heard a small loan will help build your credit, make sure you check your credit report once or twice a year.

Answer 7

go to your bank and ask them for a credit card. it may be a low open to buy (or credit limit).

purchase something every month. maybe groceries or even a pair of socks. it doesn't have to be a lot. but pay it off every month (very important). don't pay late and don't go over your credit limit.

you show 6 to 12 months of responsible purchasing and payments and go back to your bank and ask for an increase in your credit limit. it doesn't have to be by much. also ask for a lower interest.

department store credit is easier to get. jcpenneys or target or even costco. do the same thing, buy and pay off.

to get good credit you need to have 3 to 5 cards, with regular purchases and perfect payments. don't have more open to buy credit than your monthly income.

check your credit bureau reports (all three) every year.

good luck.

Answer 8

Get one credit card. Use about 25 percent of yoru credit limit and do not just pay the min. at the end of the month. Pay the entire bill off at the end of the month if you can. That is the quickest and easiest way to start your credit.

Answer 9

I built mine with one credit card at the time (100 credit lol) and a cell phone. After paying them ontime for one year, I have extablished great credit. (I dont know if it makes a diffrence, but I was 18 when I did this)

Answer 10

Start with a secured credit card and then make all payments on time.

Here is some additional info. Hope this helps