How can I build my credit? Im 18 and married and just bought our first house?
Natashia asked:
I wasn’t able to be on the loan because well we just moved and I don’t have a job right at this point (but Im trying to find one). I have tried department store credit cards and have been denied so how am I suppose to build it if I can’t do anything?
I wasn’t able to be on the loan because well we just moved and I don’t have a job right at this point (but Im trying to find one). I have tried department store credit cards and have been denied so how am I suppose to build it if I can’t do anything?
Can you get a “secured” credit card? Basically you give a bank an amount of money (example – $250.00) and that is your credit limit. So you charge groceries on the card and then pay it off each month.
It’ll help you build up a history and soon you’ll be able to get the department store cards and then Visa and on and on…
I have trouble remembering to pay my credit card bills specific dates so for the past couple of years I’ve done this and would suggest it for anyone who wants to build up their credit:
I get paid every 2 weeks. Every pay day I log onto my credit card “computer pay sites” and pay off the amount that I’ve charged. Basically I’m paying it twice a month. This way you don’t have to pay a finance charge and you don’t have any late charges if you forget to pay on one of the pay days.
Good Luck – good credit is important to have but it’s not always easy to maintain!
Credit Card is a great way to go. If you can get a Co-Signer for an Auto or Home loan would even be greater. I found this website and found it very beneficial with some of the credit secrets to building credit.