You know, I kinda like the word ‘Credit’ since when I was a kid! It always seemed something rich, something precious, interesting to me. Later when I came to know about credit score, credit history and such other things like this it seemed complicated to me but my childish interest about credit, about how to build credit history from scratch didn’t go down. Instead a challenge in my mind to have a better credit history than the people I personally knew grew up. In this post I’m going to talk on the fact that we should use to make a good credit history.
This is the first post of How to Build your Credit History from Scratch series. Subscribe to RSS Feed or Free Email Subscription to get regular updates.
Ways Of Building A Good Credit History
Start Off With A Healthy Credit History
Open Checking & Savings Accounts:
This is a primary step on your way to get your credit card. Since you can’t have one before being 18, you can open a joint account with somebody adult and can be legally held to a contract, many banks have no problem letting you open an account.
Basics of Credit Scoring:
For getting start with you need to know that the two most valuable parts in your credit scores are firstly if you pay your bills on time and How much of your available credit you actually use.
You have to be careful about paying your bill always in time. It happens that people forget sometimes to pay bills. For that you can set up automatic payments or reminder systems so that you never forget.
You’ll always have to keep in mind that you should never exceed the limit of any of your credit cards. You should always keep the expense limit under 30%. If you can keep it under 10% then that’d be great!
Secured Credit Card:
After making a checking account you should ask your bank if they offer secured credit cards. Getting a regular card to start up with aint actually that easy. So, A secured credit card will obviously help! This cards are just like unsecured cards. The difference is that it gives an assurance that whatever money you take as a debt from the bank will be paid in time.
Well, these were primary things to do to start with a good credit history. More posts following this one will be posted soon discussing the facts for maintaining a good healthy credit history. Hope you’ve liked the post. Subscribe to our Rss Feed to get updates of the following posts or you can follow us on our Twitter page. You can also give your valuable ideas about what else we can do to start off with a good credit history. Just post it on the comment box please! Have a nice day!
