good credit score is very important. Obviously it's important if you want
to borrow money. Unless you have a good credit score you will pay a high rate
of interest on your loan, or you may not be able to qualify for a loan at all.
Even more important, a good credit score will help you get a good
job, rent an apartment, and even qualify for good rates on insurance. Here are
some tips to help you establish a good credit score.
First, open a checking
and a savings account. Lenders like stability, so open a bank account, use it
regularly, and don't bounce any checks!
Next, do some research. (This site
is a good place to start). Make sure you understand how your credit score is calculated,
so you can take steps to establish a good credit score.
Third, pay all
of your bills on time. This is the most important factor in determining whether
or not you have a good credit score.
Fourth, check your credit report.
Go to Equifax, Trans Union and Experian, the three largest credit bureaus, and
review your credit report. If there are errors, have them corrected immediately.
If you do not yet have a good credit score, consider asking a trusted friend
or family member to co-sign a small loan for you. You never want to ask someone
to co-sign for you if you won't be able to repay the loan, but having a co-signor
may allow you to qualify for credit quicker, which is an important key to establishing
a good credit score.
Finally, if you are disciplined, apply for a department
store credit card, and pay the balance off in full every month.
these simple steps, you can establish a good credit score.
If you have
already taken these steps, it may be time to get a free
credit score online to see if you were successful is working towards a good
For more information, search our site or the web: