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Wednesday, October 01, 2014
1. Check your credit report carefully.
Just because you have not paid much attention to your credit does not necessarily mean your report is a blank statement. A credit report is lengthy and includes important data than those about your credit. It will show some of your personal info such as your address, employer, and date of birth.
Before beginning to work toward a good credit score, see to it that all data in your report is accurate. Credit card departments do make some mistakes. So make sure you review your credit report regularly and carefully.
2. Start small.
Start with a credit card that caters to your your needs and current situation. If you're still in school, get a student credit card. A student card is really for younger people who generally do not meet the qualifications for a high-end card that gives rewards. But, there are some who give rewards such as cash back. If you have a thin file or a low score, consider applying for a secured credit card. This credit card, in general guarantees approval. Such card requires a case deposit serving as your credit limit. Often, such deposit ranges from $300-500. Such type of credit card is a good pick if you are starting out, as it is low risk.
3. Use your card wisely and then upgrade.
When you're building your credit score, you will want to pay your debts in a consistent and timely fashion. The best way to do so is through making a few purchases per month, and pay off your debt by its due date. Do so for at least six months. Then try to obtain a second credit card. If the first card that you used is a secured credit card, ask your creditor if it could be converted to a traditional credit card. Continue with those responsible habits that you have built with your first credit card.
4. Always know and monitor your score.
As you start establishing your credit score, you will see the effect on your creditworthiness. But how is this measured? Check your credit score. There's a three-digit number that boils down your credit history and report. It tells issuers of the credit card, whether or not it's a good idea to give you the opportunity for a credit.
If you wish to get more info regarding credit cards and other banking and financial matters, contact CCLS by following the link provided. You can also click on this link to get relevant info.