What's the best way to build up my credit score ? ?

Question

I'm 21 years old and plan on moving into my first apartment next year . I have a stable job that pays me good money the only issue I have is that I don't have any credit ! What would be the best way for me to build up good credit ? What are some of the best credit cards to apply for ? What are some things I should stay away from ... Pleeeeeeeease Help !

Answer 1

cant explain it better than these two.

Answer 2

Well, any credit card will help build your credit, if you make your payments on time and do not rack up too much debt.

Answer 3

Apply for a credit card, buy some small thing with it and pay the bill as soon as you receive it.  If you have rent to pay, always pay before the 1st as you lease states.  Do not wait for the penalty date.  If you have a mortgage do the same thing.  Pay your credit card bills on time  Pay your cell phone bills and utility bills on time.  Some people get fincncially killed by $300 to $500 per month cell phone bills.  When you get an apartment, get a land line and use it rather than your cell phone when ever possible.

Answer 4

Try to get a mastercard or visa.  Use it to buy things you have the cash for and put the cash away.  When the bill comes in, pay it all off (to avoid finance charges).  Do not run it up to the credit limit.  Make sure you get a card with no annual fee.  After 6 months, apply for a second card, but don't use it.

Answer 5

by borrowing money and paying it back. The only thing a high credit score is good for is borrowing more money and paying interest.  You can rent an apartment with no credit. It's bad credit that's the problem. Bad credit from playing the credit card game and losing. Once you get a high score you have to keep borrowing and making payments on time to keep a high score. A system designed to keep you in debt.

Pay as you go and live on less than you make. If you do this you will have money. You'll never have money making payments and paying interest.

Answer 6

improve your credit score http://hopeways.blogspot.com/2008/08/res...

Answer 7

Also never have an outstanding balance over half your credit limit.   That really hurts your score so say you have a 1k limit on a card,   dont carry a balance over 500.    And if you buy a car,  try and save up a good amount,  finance most of the car and pay it down,  save your down payment for the loan the first month,  and always look for prepayment penalties,  never agree to them.

Answer 8

Apply for a secured credit card from your bank. Use it to make small purchases but always remember to make your payments on time and if possible pay it off at the end of each month. Within a short time, your score will improve. Here is more information

Answer 9

You should do the following things:

1. Become member of a credit union and get a credit card from them.

2. Get a secured credit card on your name.

3. Try and get other credit cards that you can get with no application fee and no annual maintenance fee.

The above three will help you to get have high credit.

4. Next step is to spend about 10% on your credit and then keep paying it off. That will ensure that you have a very good Credit:Debt ratio.

5. Get the utility bills on your name and keep paying them, as they form part of your credit history also.

6. Same for a post paid phone connection.

This should help you to get started off.

All the best!