Home › Questions › Credit Building › How to build credit at 18?
- This topic is empty.
-
AuthorPosts
-
September 8, 2024 at 10:19 pm #990KikoffKeymasterSeptember 8, 2024 at 10:23 pm #996KikoffKeymaster
Learn the basics of credit
Figuring out the terms you need to know is the first thing you should do. Getting familiar with the information on your credit reports that makes up your credit scores will make everything else a bit easier to understand. The Consumer Financial Protection Bureau provides information on key terms in credit scores and credit reports.
Get approved for a credit card
Getting and using a credit card is maybe the most straightforward way to start building credit. For young people, often without any credit history, a standard credit card might be hard to get approved for. Alternative paths to credit include becoming an authorized user on a parent’s credit card, getting a starter credit card, or applying for a student credit card.
Make payments on time
Whatever credit card you end up with, your payment history will be the biggest factor in your credit score, so paying your credit card bills at the end of each month is critical. Thinking of your credit card as a debit card can make this easier. Essentially, if you use this strategy, you’ll only use your credit card to buy things you can cover right away with the money in your checking account.
-
AuthorPosts
- You must be logged in to reply to this topic.