What are some ways to start building your credit? I want to buy a house within the next 3 years!
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Get a small credit card, only spend about 10-20% of the balance each month, wait till you get a bill and then pay it off each month! Then you avoid interest, and any fees... you want to have more 'available' credit than what you use... so maxing out a card is actually worse on your credit than just using it a little... I use my credit card to fill up my car once a month, let the bill hit and then pay it off... we do something similar with my husband's cards... he has a monthly membership that hits one, and the other is an Amazon card, we have automatic monthly purchases like diapers that go on that... and those items are already in the budget to be paid each month... that's what we are doing!
@mamawillz17, that's what my mom said as well, paying rent
@kimberlyyyy_the-preemie-mom, I was thinking about doing that
If you have a bank account, you could ask your bank about getting a credit card through them.
Warning store credit cards often have a high interest and apr rate! Do your research 😊
@cubanese, okay cool thank you! I'll probably gun for target since I shop there the most
Try to take out a personal loan and pay it all back each month
I had no credit meaning no one would approve me so I added my name onto my hubs toys r us card and started building credit. Now I just got approved for my first quicksilver credit card by capitol one.
I started off with a Victoria's Secret card (which in case anyone didn't know you can use it at bath and body works) then I got the capitol one silver card and then the discover it card. My ex husband got ahold of them though and maxed them all out and never paid a single penny back and then opened a Walmart card in my name as well and maxed it out the same day so I'm in the process of rebuilding my credit. So definitely definitely use responsibly. I would suggest a store that you only need to go to every now and then.