Got Credit?
How Do You Build Good Credit? Most people start building their credit history over a period of time as a natural progression into adulthood. However, not everyone likes the idea of owing money. The object is to demonstrate that you can handle your financial responsibilties. The system notes consistent behavior, so don't make any sudden moves. Apply for a small credit card with your bank or credit union and pay it on time every month. Leave a little balance on the card ($5-$10) to keep it 'active' in the FICO scoring system. If you bank says no, then first establish a savings account and then ask for a card or line of credit for the amount you have in your savings. Avoid those offers in the mail that say you are pre-approved. Many of these cards are hooks wtih low entry rates and escalating fees. Instead approach your bank or credit union about a small starter card to build your history. Keep your balances low on your revolving card accounts. The trick with credit cards is