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[C537]Check My Credit History

by Noreen Ruth, Nor

Here's some common ways to get started:

1. One easy way to show a potential lender that you're a good credit risk is by opening individual checking or savings accounts in your name. While a bank account will not affect your credit file, the account activity will demonstrate your ability to handle money responsibly. Be aware that writing bad checks and overdrawing your bank account are negative indicators to lenders and do damage to your credibility as a good credit risk.
2. Apply for a credit card and use it to establish credit. Pay it off every month to show that you can responsibly handle money. If you must carry a balance, it's imperative that you pay your credit card bills on time. Department store and gasoline credit cards are generally easier to obtain than major credit cards such as a CitiCard® or Discover®.
3. Another good way to establish a credit history is to apply for a small loan or line of credit from your local bank. Repay the loan promptly and on time to build a positive credit history and earn a good credit rating. To get a loan without a co-signer, you must be at least 18 years old and have a steady source of income. Increase your chances of getting the loan you're applying for by coming up with a large down payment.
4. If you don't qualify for credit on the basis of your own credit file, consider asking someone with an established credit history (like a parent) to co-sign your application. If you fail to repay, the co-signer promises to do so on your behalf. If you're looking for a credit card to start building credit, consider a secured credit card. These credit cards require you to maintain a funded account / security deposit to get approved. Or, apply for an unsecured card and avoid the security deposit altogether (if possible).

Qualify for a New Credit Card If you are at least 18 years old and have a regular source of income or savings, you're on your way to qualifying for a credit card. But you'll still have to demonstrate that you are a good customer. The proof is in your credit history, which lists the amount of credit you have received and
how faithfully you've paid it back. If you've financed a car loan or other purchase, you probably have a record at a credit reporting bureau. This credit history shows how responsible you've been in paying your bills and helps the credit card issuer decide how much credit to extend. If you're a full-time student, make sure to include that information on your credit application. Creditors often assign full-time students lower initial credit lines to start their credit files. If you have an excellent credit history, you may qualify for cards with rates as low as 0% introductory APR and a variety of reward cards. /P>Before you submit a credit application, get a copy of your credit history to make sure it's correct.
Contact a credit bureau listed in the Yellow Pages under "credit rating and reporting."
To order a copy of your credit report, contact Equifax, TransUnion, or Experian.
Choosing the Right Credit Card Credit should be your servant and not your master! Smart consumers comparison shop for credit cards, especially with today's wide array of choices. Before you accept the 'pre-approved', 'limited time' offers you receive in the mail, consider all of your options and how you plan to use your new credit card. If you plan to pay the balance off each month, a grace period is vital to avoid paying interest on your purchases. If you plan to pay off the balance over time, look for low APR credit card offers with no annual fee. How high of a credit limit do you need? Will your new credit card be accepted in all the places you plan to use it? Equally important is to understand what method the issuer uses to calculate your balance and compute your finance charges. This will determine how much interest you'll pay each month!

When it comes to the wonderful world of credit, it can get quite confusing and the main question that many new comers love to ask is, ?How the heck do I start building credit?? This answer is actually easier to answer than you thought. While most people think that they need to start building credit with a regular credit card, there are so many other ways, it's silly and today, I'm going to show you exactly how you can start building your credit and getting a great FICO score.

Credit cards is the name of the game

I know I mentioned credit cards in the introduction and while I believe this is the best way to get credit, you may want to look into other alternatives if you don't think a card will be best for your habits. Many people find that they spend too much when they have a piece of plastic. If you think that this is you, you may want to go to the next option.

Many kids graduate from high school and are eager to start building credit. What most kids don't realize is that there are cards out there that are designed just for them. These types of cards are called student cards or student credit cards. These cards are geared toward any student currently enrolled in any college. All the credit companies ask for is proof that you're attending the school and little bit of personal information.

Now you're probably thinking that these cards probably stink and the rewards are probably awful. Well, you couldn't be further from the truth. Most student cards are actually quite reasonable when it comes to rates and rewards. You can choose any type of card from cash back cards to getting gas rewards. The key to finding the right card is by research and asking around.

The other option ? loans

If you skipped the credit card portion or you just want to see what option two is, it's a bank loan. I'm going to share a little secret and tell you exactly how you can start building credit for the first time and it involves little to no risk.

When you go into a bank, ask for a small personal loan around one hundred to two hundred dollars. Most banks will bite on this regardless of your credit score. From here, just hold onto the money and don't spend it. Now, you can either pay the loan off in full when your first payment is due or you can pay it off in increments, it's up to you. Remember, that you'll have interest charged to you if you pay increments. If you do this enough times, you can build up a nice credit score.

These are two major options if you're looking to build your credit. If you don't like either option or you want a credit card and you're not a student, you can always try a department store card. These cards are generally easy to get but you'll probably get a low credit limit. Regardless, these are all ways you can build your credit. Remember to use your head when you use your credit!

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Both Noreen Ruth & Tom Tessin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Noreen Ruth has sinced written about articles on various topics from Credit Cards, Build Online Business and Credit Cards. * For more information on choosing, see our article . To see a complete list of secured, unsecured and prepaid. Noreen Ruth's top article generates over 14800 views. to your Favourites.

Tom Tessin has sinced written about articles on various topics from Mileage and Fuel, Education and Finances. Find and more of Tom's work at FINDcollegecards.. Tom Tessin's top article generates over 673000 views. to your Favourites.