Steps to establish credit

Want to get started building credit? Here are good steps to take.

To establish credit

A checkbook and a calculatorOpen your own bank accounts and manage them well.

A check stamped “insufficient fundsNever spend more than you have in your bank accounts.

A gasoline credit cardGet a gas/store credit card; always pay your bills on time.

Loan documentsTake out a small loan; repay it monthly in full and on time.

A credit card with the word “secured” stamped on itGet a secured credit card linked to a savings account. See credit cards to learn more.

Note: Here’s another good way to establish credit: put your apartment lease and utility bills in your name and always pay your rent and bills on time

Click the Next button to discover how lenders decide whether or not to loan you money.