|
Building credit is something that takes awhile. The first thing is to have some revolving credit lines (i.e. credit cards, finance line at a store) that you use and pay off. What is strange is that the more credit you have and don't use the better it seems (up to a point). Don't be late paying bills as any late payments will show up on your credit report. A very good start is just to get a credit card and use it for enough things to build up a small monthly balance and then pay it off each month to avoid finance charges. A fallacy of the credit system is the more credit you ask for the lower your credit score goes. One of the things they look at is how many "credit inquiries" are made in the last few months. Therefore it is best to only apply for a couple of credit cards and not to apply for many of them just due to the free gifts they give you. Also, it is better if you have things like phone lines in your name so that when they get paid off you get the benefit of paying it off. Building credit is kind of a long thing. There is no easy answer beyond just what I said above.
|