Building Credit (12/20/18)

You might think its to early to start building credit. Well, if you are 18, then it's not. Building credit takes time- the earlier you start, the more it will help down the road. Credit can be hard to understand; check out these tips from to begin building your credit.

1.) Understand the Basics of Credit- Understanding the basics will help in the long run.

2.) Become an Authorized User- This can help bring your credit score up. Check out the article below for more information.

3.) Get a Starter Credit Card-  It may be hard to get a credit card if you have no credit history. Shop around until you find the right one for you.

4.) Make Payments on Time- Your payment history makes up 35% of your credit score.

5.) Maintain a Low Credit Card Balance- It's recommended that you keep your balance below 30% of your limit

6.) Get a Loan- Don't just get a loan to build credit. If you need a new car for school/work, this will help your credit score only if you pay on time every month.

7.) Monitor your Credit Report and Credit Score- You get one free report per year from the three major reporting agencies.

8.) Keep it Simple - Only have the lines of credit you need. Having more credit cards and accounts only make it easier to fall into debt.

For more information on these steps, check out the article.

Start Building Credit!