How Beginners Can Build Their Credit Fast

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Get the right credit card.

How Beginners Can Build Their Credit Fast

Since you have no credit history, you should consider only the types of cards that you can qualify for. The primary option is a secured credit card that requires collateral deposit equal to the limit.

There are special deals with smaller deposits and deposits paid in installments. It is also possible to obtain a credit card with a co-signer. Another option is to become an authorized user on another person’s credit card. This could be a relative or a close friend. You should also consider store credit cards as they are fairly easy to qualify for.

The best way to get a good card is to shop around and check carefully the interest rates, fees and repayment terms.

You have to be certain that you will be able to afford using the card given your income and spending. Another crucial thing to check when shopping is whether the card is reported to the credit agencies. Most are reported, but you have to confirm this to be on the safe side. Apply for no more than two cards at the time to avoid credit score penalties.

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