Helpful Credit Tips

At a glance, your credit score can tell your potential lender what they can expect from you as a client. Good credit can make you more likely to get a loan for big purchases, get you better interest rates, and overall helps get you closer to the life you dream of with much less hassle and stress. If you're new to credit, you might be wondering "Well, how do I build good credit?" Getting started is the hardest part because to build credit, you need credit. But building credit, while daunting, can happen quickly once you make the proper first steps.

The easiest place to start building credit is with credit cards. You can apply for a secured credit card with a higher credit limit. These cards are targeted to those who are new to credit and are easier to get approved on than unsecured credit cards. Once you are approved, it's important to remember not overdo it on spending and to limit the number of cards that you have. Keeping a low credit balance and, most importantly, paying your credit card bills on time is the best way to ensure that your credit is on the track to perfection. Your credit score when you first start can take up to 6 months to populate, but you will find that once you have a score, purchases that involve lenders and credit become much easier.

Building Credit 101

Are you looking to dig yourself out of poor credit? As it stands, about 20% of Americans have credit scores below 600. Having poor credit can make it harder to apply for loans and credit cards, renting an apartment, and can reduce your options when looking at cell phone providers. However, there are steps you can take to increase your credit score so you don't have to worry about finances down the line. We have created a comprehensive guide on how you can increase your credit score and start applying for those loans you have eyed up!