Establish Good Credit
Date: Tue, 11/09/2010 - 10:49
Establish Good Credit
Is it true that having a credit card that you pay in full every month is equivalent to having no credit? Can anyone please give me insight on this?
You should build up a credit history. You can open a checking ac
You should build up a credit history. You can open a checking account, along with a debit card. Make regular on-time payments for a year, then apply for a credit card with a low credit line, like $200.
Keep the balance paid, and on time. You will eventually qualify for bigger credit lines.
Your cell phone can also help you to establish credit. Just pay
Your cell phone can also help you to establish credit. Just pay the bills on time.
Most people start with a department store credit card. Macy's,
Most people start with a department store credit card. Macy's, Sears, JC Penney, etc. A gas station card is also a good option. Just make sure you only make small purchases and pay the full balance every time. You'll begin to build a solid credit history. No, it's not true that paying the full balance is the same as having no credit.
Apart from Departmental store credit cards or gas station cards,
Apart from Departmental store credit cards or gas station cards, you can also try for some secured credit cards as they will have a very low interest rate and will not be a burden for you to pay them off in time.
This will also help you to gain good credit in a short period of time.
I have a question Victor. If the OP don't have a credit history,
I have a question Victor. If the OP don't have a credit history, can he be eligible for a secured credit card?
Yes, secured cards are mainly for people with poor or no credit
Yes, secured cards are mainly for people with poor or no credit history.
Thanks all of you for your advice. I never knew there are so man
Thanks all of you for your advice. I never knew there are so many ways to establish credit. Thanks again.