3 easy to implement tips on How To Build Credit.
Happy Sunday! welcome back to SUNDAYS & BUSINESS, This week featuring Chaim Geller from HelpMeBuildCredit with 3 easy to implement tips on How To Build Credit.
Get added as an Authorized User
To jumpstart your credit and build instant credit history, have someone add you to their credit card as an authorized user using your social security number. The card should be in good standing, open for a minimum of two years, and have zero negative marks (better not to use Chase or Amex).
Apply for a basic credit card
Now you can apply for a basic credit card, such as the Journey Student from Capital One. You shouldn't have trouble getting approved since basic cards are easy for consumers with limited credit to get approved. If you do get declined then go for a secured card. After approx 6 months, apply for a second credit card -you should be able to get approved for a basic Chase or Amex card.
Continue using your card responsibly
Use your card responsibly and make on-time payments. Your credit will build naturally. Once it's 12 months since you opened your first card, your credit should be above 720.