Tips For Establishing Credit

Here are some tips to help you establish credit

• Open A Bank Account and use it responsibly.  This is the first step in establishing a financial history.
• Get a Co-Signer. A good way to establish credit is to piggy-back on to someone who already has a good credit history established and is willing to co-sign, but be aware that any default of credit on your part affects the credit of the co-signer.
• Secured Credit Card. Apply for a credit card.  Shop around and only apply for a card if you can meet the lender’s requirements.  Responsible use will help you build a good credit history.
• Department Store and Gasoline Credit Cards.  Since gasoline credit cards are not revolving (cannot carry a balance forward month-to-month), often they are easier to obtain than regular credit cards.  Similarly, some department stores offer revolving credit for a specific purchase and this is sometimes easier to obtain.  It is also a great way to establish credit.