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How to build a GOOD credit history from NOTHING... && how to use a credit card. IDK anythingg bout it?

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How to build a GOOD credit history from NOTHING... && how to use a credit card. IDK anythingg bout it?

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  1. My first suggestion to you would be to only use ONE credit card or else you'll s***w yourself over in interest% fee's.

    Basically anytime you have something "credited" under your name it will go on your Credit History.

    the 3-C' of Credit. (how your credit score is determined)

    Character: Refers to how a person has handled past debt obligations: From the credit history and personal background, honesty and reliability of the borrower to pay credit debts is determined.

    Capacity: Refers to how much debt a borrower can comfortably handle. Income streams are analyzed and any legal obligations looked into, which could interfere in repayment.

    Capital: Refers to current available assets of the borrower, such as real estate, savings or investment that could be used to repay debt if income should be unavailable.

    To avoid bad credit, don't let your accounts go into collection or pile up under late fee's. Simply put...pay your bills on time!!


  2. Generally speaking, these are some sound practices to build credit:

    * Open a checking and/or savings account with a bank

    * Being added to someones credit card can often help (i.e. parent)

    * Apply for a credit with no fees and very low balance limit (i.e. $500)

    * If paying bills, pay them on time and in full, don't let them go to collections

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