Credit doesn’t build or fix itself, is the first lesson everyone should learn when examining their credit scores. Be proactive when building credit, there are things you can do to create a good credit history.
- Get a credit card. This is the easiest way to start building credit, but many people find the action of using a credit card to be a bit terrifying. The best way to start using a credit card is as if it is your debit card. Start by using it to make your usual purchases and pay it off in full each month. Do not look at it as “credit”.
- Don’t open too many accounts. Using one credit card to slowly build credit will have the most positive impact on your score, having a lot of accounts generally leads to issues. Your score is more based on length of credit card history, not the number of accounts you have open!
- Check your credit report. You don’t need to check it everyday but being regularly aware of your score is important, so if an error does come up on your credit report you can report, dispute, and fix it right away.
A good credit score can help you accomplish a lot of your goals, like taking out a mortgage (when the time is right!) and getting you the best interest rate possible when you do. Building good credit is a marathon not a sprint, so take your next step towards good credit today!
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