1. Start applying for a secured credit card – this can be somewhat difficult if you don’t have a job yet. Getting and using credit cards is merely the process of building your credit. In case you’re having a hard time getting a credit card, you could always apply for the secured credit card. This just simply works like a regular credit card, but, you’ll place a security deposit with the issuer to get it. However, make sure that you also get a good job.
2. Pay down your balance – using any credit card must be done responsibly, and it’s another factor that must go with calculating your credit score. The best thing that you must do is to pay off your balance in full every month. The issuer will only need you to make a monthly in a minimum amount, and that you will continue carrying a balance and incur the interest charges. Over the time, carrying a credit card balance will surely hurt your credit score.
3. Make payments right on time – According to the FICO, 35% of your credit score calculation will consist of your payment history. This will mean that it’s essential that you pay your bills on or before the due date, and that you must never miss making your payment. Late payments will have a negative effect on your credit card, and it will negate all of the steps that you have taken in order to build up a positive credit history. To make sure that you will always pay on time, you need to write due dates on your calendar and simply have your creditors send bill payments or automate the payments.
tag4. Automate Your Payments – if you want to build your credit history fast, you can, (a) let your debtor deduct the payment automatically from your account, and (b) establish automatic payments with your bank. Either way, this will help you build your credit history faster.
5. Installment loans – if you have the installment loan, such as a student loan, a mortgage or a car loan, it will surely be great for your credit, for the reason that it simply demonstrates that you’re a reliable borrower when you pay on time in a consistent manner.
6. Increase your credit limit – it is another way to build your credit card history way faster. If you think that you are able to pay your dues on time, it would be best for you to increase your limit now.
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