I was an 18 year old student a long time ago and what really frustrated me was that I couldn’t find a way to build my credit. Isn’t the part of adulthood where you build your credit, get a nice score, and then apply for a car loan and mortgage? Sure, I know it’s nice to have no debt and I know that some people are against it but what you’re going to find is that not most of us can just run to the bank and throw $200,000 at a home.
If you want to build your credit for the first time, I wanted to show you what you can do when you want to get a credit card without getting denied. It really isn’t that hard, and anyone can really do it by applying these 4 tips.
1. Try your local department store – There are many bigger named stores and department stores that can help with a credit application. If you try those larger stores such as JCPenney and more, they aren’t as strict with their application process. This is a great way to get your first card.
2. Secured credit cards – Secured cards a great way to build your credit and what you’re going to find is that anyone can get the card. All you’re going to have to do is supply them with your deposit and you’re approved. You’re just going to want to make sure that the card reports to the major bureaus.
3. Student credit – If you’re in college, a student card is a great way to build you credit. Just make sure you’re going to college and you’re going to find that many of the bigger issuers are going to approve you on the spot. There are many banks such as Citi, Capital One and more that will approve you for an application.
4. Bank loans – Even if you don’t need a loan, get a smaller loan from your local bank. You’re going to find that even if it’s $1,000, you can pay it off a little bit at a time. Sure, there may be a little interest but some people find it easy since it does help your credit score.
These should all be steps that you should take when you want to build your credit. Also check with the FTC as they have a great guide as well on how you can build your credit.