How do you establish your credit?

Question

I just recently turned 18 and I would like to establish my credit.

Any tips on how to do that and maintain good credit?

Answer 1

Search for Student Credit Cards and sign up for one. Just keep one and pay it off when the bill comes.

Answer 2

Get a job and go buy something expensive ... they will give you a credit card.

Answer 3

Well you could get a loan of some type such as a student loan or car loan...or you could get a credit card. A loan will have to have a cosigner such as a parent or someone with good credit a credit card you can get with out a cosigner. But in order to establish good credit you must without fail make every payment on time and for the full amount. For example if you have a loan and the payment is $301.04 then you would have the option to pay about $100.00 but if you only pay the minimum amount instead of the whole payment you will end up spending way more than what the payment costs in the first place due to interest charges plus everytime you only pay the min amount and not the full or make a late pymt you loose credit points! So what ever you do make sure that you can afford it or you will dig yourself into a hole quicker than you can say good credit!

Answer 4

there are a couple of ways you could start building credit, you could get a small personal loan which you might need a cosigner or the best way will be getting a credit cards, you could get a credit card and use it for your every day expenses but make sure you pay in full at the end of the month that way it will show pay in full everytime the credit card company reports to the credit beuros. At the begining you will only be approved for the lower end credit cards but once you build credit in about 6-9 months you should be able to apply for a better card with better benefits such as free miles or cash back. Check out www.fastcreditcardapprovals.com and go under bad or no credit section and you will find a few choices. But if you are a student your best choice will be a student credit card which as no annual fee and lower rates.

http://fastcreditcardapprovals.com/

Answer 5

Get a credit card, use it a few times a month, and pay it off every other time, and 3/4 the other half. Every two months call the credit card company and ask for credit line increase. Correct errors on your credit report. Your report must prove to the lender that he will get his money back.

Some retail and gasoline credit cards are not revolving (do not carry a monthly balance) and sometimes are easier to obtain than regular cards. Over time they can help establish history. If you don't have a checking account, open one. You have very little credibility with lenders if you don't have at least a checking account and preferably a savings account as well. Just as importantly, be sure not to overdraw your bank account. Bouncing checks sends a signal to potential lenders that you can't manage your daily finances and are therefore not a good credit risk.

With careful planning and a little knowledge of how lenders issue credit, you CAN establish a credit history fairly painlessly. There are many businesses waiting in line to take advantage of you by charging exorbitant fees or interest rates, so be careful out there.

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http://www.bestcreditrates.net

Answer 6

buy a car make your payment on Time  get a credit car buy a dress pay on time and u'll have good credit  just don't abuse the credit you will get u can lose it as fast as u got it  good luck girl

Answer 7

honour your Word.

Answer 8

You can check out : www.Citicredit.asia provide basic education about money management and information to help you avoid financial problems in the future.