New Credit

If you're looking to start building credit, there's several options to get you started. Sign up for a credit card, make small purchases (under $300) and pay off your expenses when they're due. If your parents/guardians have good credit, ask them to add you as an authorized user to a credit card of theirs so their credit score can help grow yours. Credit builder loans are given from the bank and as long as you pay them back on time can be a method of building credit. Pay utility, rent and phone bills on time- you can request these agencies to contact the credit agencies to let them know you always pay on time which can build your score. Sometime it involves a third-party company and a fee paid but can be worth it. Practice good credit utilization. Try not to ever use more than 30% of the monthly limit of your credit card to show you can be responsible and won't be maxing out the card. Monitor your credit score often so there's never any surprises when applying for loans or something that requires a certain score for qualifying. Some banks/credit card companies keep track of your credit history for you and it's easily accessible. You can also run a free credit report and keep track of that as time goes on to make sure it looks accurate. If you're new to credit building and really want to be considered and show you're reliable, consider writing a personalized note or letter to the person who will be reading and evaluating your credit report. This shows you're serious about wanting to improve your credit and it may reach the right person who wants to help out. I hope this helps you out and connect with me, Chris McCarron, if you need any guidance. Womencreatingwealth.net.