How to Build Your Credit History - Page 2

4. Get a Car Loan or a Store "Loan"

If you’re shopping around for a new car or furniture, you might as well take advantage of the deals you can get with things like 'buy now' and paying over a period of time with no interest. As long as you pay off your furniture before the interest comes in and pay off your automobile as soon as possible, you will be able to enjoy a more solid credit history--along with the things you needed to buy anyway.

5. Get a Credit Card Through Your Bank

Having a good history with your bank can make up for the lack of credit history. You probably won’t get the best credit card, or one full of rewards and perks, but it is easier to get a credit card through the bank you have worked with for some time than it is to get a card through a bank or company that doesn’t know you at all. Try your bank for a small limit credit card to get your credit history started--it is especially helpful you have worked with that bank for a few years and have a good reputation with them.

Conclusion:

Establishing a credit history when you don’t have one to begin with is mostly a matter of paying your bills on time and taking advantage of credit which is easier to get, such as car loans or store credit. So long as you pay your bills on time and keep your finances on track, you should be able to get your favourite credit card or mortgages and loans with better terms. Good luck!

Page 1 | Page 2
comments powered by Disqus