Review your credit
How to establish a good
credit history
Establishing a good credit history is actually pretty simple:
- Open a checking and savings account. Maintain your checking account by keeping enough money in it to cover all outstanding checks. Make regular deposits in your savings account to establish a history of savings.
- Apply for credit gradually — once your checking and savings accounts are in good working order and if you believe your budget can handle the financial load — through retail store credit cards, a major bank credit card or a gasoline credit card.
- Don’t apply for more credit that you can manage. A credit card establishes you with credit as soon as your application has been approved.
- Make regular payments for the products or services you purchase with credit. Every time you make a payment as agreed to a creditor, you are building a favorable credit history. If you consistently repay your debts, your positive credit history will build.
