Why Should I Think About Credit Right Now?
Too often, people don’t worry about credit until they want something big. But when the day comes that you need a loan — for that sweet ride or that dream house, let’s say — your credit report can make or break the deal.
Besides making it easier to borrow, a good credit score can help you rent an apartment, qualify for a better auto insurance rate, or even a get that job you wanted. So, it’s important.
The smart move is to make your credit history look good to lenders long before you need a loan or credit check of any kind. It’s not that hard to do. Here are some options for getting started:
- Apply for a low or no fee credit card.
- Get a card at a retail store.
- Try for a secured credit card or loan.
- Ask a family member if you can be an authorized user on their credit card account.Your goal is to take on a debt you know you can pay back to build positive credit history. Keep in mind that if you pay late — or not at all — you’ll be doing the exact opposite!
Whatever method you choose: Don’t open too many accounts at once. Don’t max out your credit. Be selective, take it slow and manage credit responsibly.
If you’ve messed up your credit, don’t despair. While there is no quick fix, credit repair is possible — it takes good credit behavior and time.