Even if you consistently pay rent, utilities, and phone bills without a problem, you could still be denied a simple loan if you do not have an established credit history. The key is to establish your credit history before you actually need that car or mortgage loan. A simple way to start building credit history, before you go in for that loan, is through credit cards.
A credit card is much simpler to obtain than a loan, and it is a good way to demonstrate to lenders that you are capable of being a responsible consumer. Anyone can build credit history, but the important part is to build a good credit history. A few simple tips will help ensure that you start building from a good foundation.
Dont apply for every credit card offer you see
Applying for many credit cards within a small amount of time, even if you never use the card, or are not even accepted for the card, can damage your credit score. It is often a good idea to start with a bank or credit union that also takes care of your checking or savings accounts.
Dont max out your card
Although most cards offered to people with no credit history will have low spending limits, avoid charging...
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