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How To Establish Good Credit
To re-establish credit after you’ve had credit problems in the past, try these three strategies
To re-establish credit after you’ve had credit problems in the past, try these three strategies:
Establish Good Credit
1. Open a Secured Card.
With a secured card, you put up a certain amount of cash into an account — perhaps $500 or so — and that becomes your credit limit on the secured card. Apply for a single secured card; you’ll get it just by forking over the cash as I described above. Then simply make on-time payments for 6 to 12 months. This will definitely help you boost your credit scores because it will generate some positive payment history for you. It will also help to offset somewhat the past negative marks in your credit files. Before opening a secured credit card, just make sure the bank that issues the card does, in fact, report to the credit bureaus.