Building Your Credit – Where to Start
Building Your Credit – Not So Easy Today…
First of all I am going to assume two possible situations. The first is that you have no credit at all, and need to get it established. The second scenario, is your credit is damaged and your focus in now on building your credit back up.
is building your credit important? Well, if your looking to buy a car, house, or even rent an apartment you had better have a good credit score. So yes, credit is important in everything we do. You’re on your own in this world if you don’t have credit.
I’ve even found cases, where creditors were more willing to work with somebody who did not have good credit vs somebody who had no credit. Don’t ask me the reasoning behind that.
When Building Your Credit, Follow These Simple Steps:
First of all I want to stress, that if you apply for any kind of credit account, and get denied in the processs, this will reflect on your credit report, as an inquiry. This is not how you want to get started.
So first and foremost, make sure you have been at your current job at least a year. You will be asked to list time at your current job, and your salary. This will be verified so just be truthful.
One of the easiest places to establish your credit is JC Penny’s. I have referred 100′s of people there and they can get approved with no credit at all. If you don’t have a JC Penny’s then check out, Walmart. It is usually fairly easy to get approved there also. This is your first step to building your credit.
Now once you have been approved your next step in your building your credit, is doing just that. More than likely you will have about a $200 limit on your first card. Do Not! Spend that limit. This looks very bad if you max out your card.
This is exactly what you don’t want to do. You need to be responsible. So what I would do is spend about 1/4 of that. Buy whatever it is you choose, if you have to buy extra then pay cash. Don’t max out that card, this is very important.
Now, as soon as you get a bill there will be a minimum balance due. Here is what we don’t want to do.
- Don’t pay the minimum due, pay slightly over the minimum
- Don’t pay the entire balance the first time
- Don’t pay late
Building Your Credit When It’s Damaged
Now, we covered building your credit when your new to this game. However, what if you have damaged credit. Is it hopeless? Some would say so, others would tell you you’ll be able to play again in 7 years. I say BS!
You see there is nobody that has had as much success building your credit back from the Pitts of hell then me. I’m telling you my score was in the low 500′s. That is bad! however, if you’ll watch the video above you’ll see that you can start building your credit today. For cheap!
It’s not hopeless. How much work to start building your credit? NONE! Seriously. All you need to do is send in your credit reports, and they will take care of the rest. It really is the best way to start building your credit back.
I could talk about this all day, however your best bet would be to check out that video above and start building your credit. I show you where there have been over 60 items deleted off my credit reports including but not limited to charge-off’s, liens, collections, late payments, you name it GONE!
Now, I’ve never had a Bankruptcy or Foreclosure but if you do have them, no problem. These guys can wipe those off too. It doesn’t happen in weeks, but in a few months you can kiss them good bye. So what are you waiting for, go check out that video today and start building your credit!