Credit Tips: How to Build Credit

Posted On: February 1, 2006

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Posted: Thu Jan 13, 2005 2:39 pm
Post subject: How to Build Credit

dcp
Date: 6/5/2000 5:07 pm CDT

my background is different, I want to build my credit; however, everything we own is in our family name. I do not even have telephone number under my name. On the otherside, I do not have any problem paying any of my bills. I did not even have record until two years ago when I incured medical bill. I have paid off this bill now. Is there any way to built my credit, also I have about $1000.00 to $1500.00 in expense every month.

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Posted: Thu Jan 13, 2005 2:39 pm
Post subject: How to Build Credit

Eugene Skorodinsky
Date: 6/5/2000 11:25 pm CDT

The best answer I know to building credit from scratch is a secured credit card. Just make sure the issuer reports to credit bureaus regularly. I think most secured card issuers require a utility bill as proof of address. Try to find one that doesn’t (expect higher fees since it’s higher risk), or change one bill to your name (the one that doesn’t charge you for closing and reopening an account). Oh, and a checking account would not hurt. In about 6 months of using secured card responsibly creditors will look for you, not the other way around.