3 Tips for to built credit:

Are you ready to figure out how you can build good credit without having to dip into your savings or use money you really don't have and cannot afford? There are many ways to build your credit and get to the point that you are ready to start living without the financial worries of bad credit and not being able to get any type of financing that you need without huge down payments and deposits. Here are some tips to get you started in the right direction so that you can live a better financial life.

1. What to do if you are starting with no credit

If you are starting from scratch and you have never had a credit card, car loan, or anything else that would cause you to have some sort of a debt on your credit report, then building your credit up is not all that hard. You can get yourself a credit card with a small limit, use it a couple of times a month, and pay it off every month. This will help you to get something good on your report. You can also take out a small loan from your bank from $500 to $1,000 and pay it on time the entire time as well. This will also help to build up the positive side of your report. If you do this and you always pay things on time you will on the way to perfect credit.

2. What to do if you already have bad credit

When you want to build good credit and your credit is already messed up, then you need to know a couple of tricks. You have two sides to your report, which you need to pull from all three bureaus so that you know exactly what you are dealing with. Then, you need to go through all the debts you have on the negative side of your credit and put them in order from smallest to largest. It is not about the size of the debt with your score, but instead the number of debts. To build good credit you want to pay as many of these debts off as you can one by one starting with the smallest and working towards the largest.

3. The second trick for those with bad credit

You also have another trick to use to build up the positive side of your report and help you out in that way as well. This is what is great about your credit. You may struggle to get approved for a credit card, but you can get a prepaid credit card. The prepaid cards allow you to pay a small monthly fee of about $10 and they will report to the bureaus for you. This can help you build up the positive side of things so that you can even out the negative as you are paying them off.

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