How do you achieve good credit when first starting out? How does it work?
by 
ScholarAtHeart
ANSWERS: 5
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Use your credit card. Pay everything on time.
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Get a credit card, and just use it for building credit. Make small purchases and pay them off slowly. Never let the balance get too high. Pay more than minimum payment, and pey it early.
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The easiest way: 1)Get a credit card. 2)Set up online banking 3)Pay your bills online. 4)Immediately after paying your bills online, pay the balance on the card. 5)Do not use the card for anything else. By doing this, you will have an active card, with a continuously active monthly history. You will be paying it off each month, so you're not going to pay interest. You're spending the money anyway, so you're not taking on any new financial responsibilities. And, as a nice side bonus, you can use your credit card statement to track your bills.
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Achieving Good Credit # Achieving good credit is simple and really only uses two principles: Pay your bills on time and use your current credit wisely. For some consumers, that is easier said than done, but even if you have been laid off or have a couple of rough spots on your credit history, you can still achieve good credit. First off, the only items that report to your credit are ones that have interest (and companies are not required to report); these are credit cards and installment loans. Utility bills, bank accounts, savings accounts or mutual fund accounts do not report to credit bureaus. Secondly, before an account reports as late on your credit history, you must be a full 30 days past due. For example: You have a bill due on Aug. 1, but you don't pay it until Sept. 2; that account will report as 30 days late on your credit, and it will decrease your credit score by as much as 75 points. Kelly Robbennolt
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