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How To Establish Good Credit

In order to get credit, you must show a number of stable and responsible attributes. The most important factor is your credit report, which must prove to lenders that they will get their money back. You should get a copy of your personal credit report for the following reasons:

1) see what information the credit bureaus have in your file,

2) ensure the information, if any, they do have is accurate. If any inaccuracies do exist you should dispute credit report errors immediately with the appropriate credit bureau(s).

3) see what the credit grantors are looking at.

If you do not have a credit history to prove your credit worthiness, you should do one of the following to begin establishing your credit:

  • Obtain a secured/pre-paid card
  • Obtain a credit card with the assistance of a co-signer
  • Obtain a retail or gasoline credit card (usually easier to qualify)

Regardless of how you obtain your credit card or what type of credit card you obtain:

1. Create a debt on the new card.

2. Wait until the first bill comes and pay the bill off in full (or make payments until paid off).

3. Repeat this process until you have a well-established credit history.

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