Establishing Good Credit
Establishing credit can be one of the best ways to start your financial future. If you never had to use credit before, congratulations! Paying cash for your necessities can be much less stressful when it comes to credit card payments, loan payments, and even interest rates. But if you are young, the chances of you needing credit in the future are very real. Whether you are looking into buying a house, or even a new car, chances are you will not have the cash outright to purchase these high ticket items and you will need credit.
One great way to start establishing credit is to apply for store credit cards (Sears, Macy’s, Nordstrom, etc.). Once you have been approved for their credit, make a few small purchases and pay them off completely. It is however important to never spend on credit more than what you can pay for, or you may find yourself falling behind on payments and establishing bad credit instead of good credit.
Another option you may find useful and a little less risky would to apply for a secured credit card. These cards will ask that you place a certain amount of money in your account, in which you will receive a charge card. Then you can make purchases up to the amount of money that is in that account. The credit reporting agencies treat these as regular credit cards, but look to them as a responsible way to establish good credit history.
For more information about building positive credit, or erasing negative credit…
schedule a free consultation on our website
http://BetterCreditGuaranteed.com