Building your credit

What is the best way for someone with no credit (is not bad is just never "used") to build their credit to a good number

Re: Building your credit

Start with a credit card with a small amount of credit on it. Use it and pay it off every month. Continue to do this with larger amounts of credit allowed.

Re: Building your credit

My husband had NO credit 2 years ago! He could not even get approved for a credit card because of it. First, he got a capital one secured credit card that he put 150 of his own money. Then he payed it off every month. (they put the money into a saving account or cd or something) About a year later he got "regular" credit card offers and applied and was approved for a second one. Now 2 years later he gets credit card offers all the time and he was approved for a mortgage at a very low rate. His credit score is in the high 700's!!

Building your credit

I started building my credit with Target and Kohl's cards two years ago. ( I came here from Europe and had zero credit. )Both of them had a very high interest 24-29%, but I always payed it off by the end of the month. Then I got a Discover card ( they used to send me 2 offers a month) and got a brand new car. Now my credit is in high 700s.
It takes time, but I am sure you will be fine.
I check my score and print all of my 3 reports once a year too to make sure everything is accurate.

Building your credit

thanks for the advice :)

Re: Building your credit

It's important not just to pay off your full CC bills each month, but to pay off every bill...from rent/mortgage to drs bills. It all contributes to your credit rating.