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Starting you credit |
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How to start your credit for the first time or start your credit over after a bankruptcy or foreclosure. |
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| Author: Credit Finder |
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We all need to have some credit history and preferably a high credit score. Credit history and a good credit score is required to borrow money at low rates, and can help you rent a house or apartment, get better insurance rates, buy a cell phone, or even get a job.
Having a credit card, charging small amounts, and paying it on time every month can help you establish your credit history and get a high credit score.
Find a reliable prepaid credit service:
Apply for the card. Don’t worry you will be approved! Every one gets approved. It depends on how much money you have to spend. You see the card is pre paid, that means it is your money.
Fill out the forms making sure all the information is correct, you don’t want someone else getting credit from you. This process will take about a week.
Use the card as soon as you get it. Buy anything you want but make sure its something that you need.
Now apply for another one. Get as high a balance as you can afford. Do this one more time. Most lending companies require three lines of credit opened for 6 months or more.
Wait 6 months using the cards to pay for bills, food, beer or anything you want. Now you can buy a car at almost any lot. Apply for a low rate visa, get approved on an apartment.
What are the benefits of starting your Credit with a Prepaid Master card or Visa?
1) It is by far the most common way to start your credit.
2) It is the easiest way to get your credit rolling.
3) The fastest way to add credit to your credit file.
4) After a few months you will have a higher credit score.
5) You are automatically approved.
6) Easier and cheaper to buy anything online.
7) Doing this gives you credibility with other lenders.
8) Freedom to buy airline tickets online at a discount.
9) Better credit file when applying for auto credit.
10) It is a safer way then using cash.
About Author
Online library and my own personal contacts with Lending institutions, banks, personal documentation, and my own contacts. Twenty years of hard work..
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