Tips For Establishing Credit

Dated: 08/14/2018

Views: 10

5 Tips For Establishing Credit

Open A Bank Account

Open a bank account and use it responsibly. This is a good first step tp establish a financial history.

Secured Credit Card

Apply for a credit card. Shop around & only apply for a card if you can meet the lender’s requirements. Responsible use will help build a good credit history. A secured credit Card is a good option if you can’t get approved for a regular card.

Get a Co-Signer

A good way to establish credit is to piggy-back onto someone who already has a good credit history established and is willing to co-sign but be aware that any default of credit on your part affects the credit of the co-signer.

Store & Gas Credit Cards

Since some gasoline credit cards are not revolving they are sometimes easier to obtain than regular credit cards. Similarly, department stores offer revolving credit for a specific purchase and this is sometimes easier to obtain. It is also a helpful way to establish credit.

Revolving Debt

Once you have obtained revolving credit accounts. Be sure & use them wisely. Pay on time and keep your balances low. Balances of less than 30% of the limit should keep your credit score on track.

Information Provided by:

Shelly Cohn – Pilgrim Mortgage


Don't Forget to partner up with a realtor and a lender to get you on the right track to accomplish your homeowner goals.

-Claudia Salinas

Blog author image

Claudia Salinas

Claudia Salinas is a licensed Realtor® and proud homeowner in the great city of San Antonio. She has been in the customer service and the sales industry for over 10 years. She brings the same passion....

Latest Blog Posts

Tips For Establishing Credit

5 Tips For Establishing CreditOpen A Bank AccountOpen a bank account and use it responsibly. This is a good first step tp establish a financial history.Secured Credit CardApply for a credit card.

Read More

4 Simple Reasons Why To STOP Renting And START Buying

4 Simple Reasons Why to STOP Renting and START BuyingWith people becoming homeowners every day, there isn’t a better time to buy than now. There are many programs available to buyers, such as

Read More

Four Things She Wishes She Had Known Before She Got An FHA Loan

This article by Nicole Slaughter Graham gives great information for first-time homebuyers and anyone considering an FHA loan.“A few years back, my husband and I were growing out of our two,

Read More

Social Media Posting Times

What is the best time to post on social media?The best times to post on Facebook for tech brands are Monday at11 a.m.and Tuesday from10 a.m.tonoon. It's generally safe to post anytime between8 a.m

Read More