What is the best way to build credit history?
If you have no prior credit, one of the best ways to build up credit history is to get a credit card that caters to people with no credit. Check the fees on your card and try to keep them to a minimum. When your bill arrives, pay it in full and on time to avoid paying interest. If you continue doing this, your credit card issuer will eventually raise your limit and you’ll eventually become eligible for cards that offer more attractive terms. It’s also usually better to have more than one credit card, if possible. Believe it or not, but creditors feel more confident when they see that other companies are also willing to lend you money. (This is not true in the extreme, of course–limit the number of cards to a few that you actually need and can afford.) Just be sure that you are responsible, can afford your charges and pay your bills on time every month. Otherwise, you will be heading down the path of damaging your credit. Once you have opened a credit card account, don’t close it! The
