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Credit Building

How can I build credit?


Building a credit history can be challenging, but it is necessary for obtaining loans, renting an apartment, getting insurance and even sometimes finding a job.

One of our certified counselors will review your current financial situation and discuss with you the best ways in your current financial situation to establish credit. You need to have at least one account open for six months or longer in order to establish a credit score (FICO score). This account(s) must have the creditor(s) reporting your activity to a credit bureau so your credit score can be built.

You can build your credit by:

  • applying for a secured, student or store credit card.
  • receiving credit on rent, cell phone, cable TV payments.
  • having a loan co-signer.
  • applying for a credit-builder loan.
  • becoming an authorized user on someone’s credit card.

Building and maintaining a good credit score

Continuing to build and maintain your credit score is extremely important. It does require a responsibility and discipline. Here are a few ways to keep your credit score trending upwards!

  • Make certain you are 100% on time with paying your credit card bills, loan payments, utility bills and any other bills. Avoid being sent to collection.
  • Check your credit reports annually to verify accuracy of accounts.
  • Do not open too many credit card accounts.
  • The longer you have your accounts, the more favorable the impact on your credit score.
  • Pay off your credit card bill in full each month. If you cannot, then make certain your balance does not exceed 30% of your limit. Keep your credit card utilization low, don’t spend too much.

It can be easier to damage your credit than to fix it. Always be mindful to not overspend!