Did you know that you can request access to your credit record free of charge? It is important to check your credit reports regularly because it can contain inaccurate information.
You want to make sure that your personal and financial information is accurate. But how do you build credit so that you have a credit history?
Many stores prepared to give a credit card
When you start making use of credit, you’re more than likely to start off with a score in the 600 range. If you want to build a good credit history, and you have a credit card, while you make steady, timeous payments, your credit score will climb. Building credit is a long-term investment.
It isn’t going to happen overnight. Your credit history will gradually build as you make regular, on-time payments. You can apply for a secured credit card from the bank, but you can also get a store credit card, even with no credit history. The idea is to never buy more than you would buy with cash, and if at all possible, pay off the entire bill at the end of the month.
Help with building credit
Even if you are one of the 26 million consumers in the U.S. who are credit invisible, with no credit history, Kikoff provides an online platform for credit builder loans. This can be looked upon as a lifeline for you.
It provides loans on the basis of verification and bank statements. Simply create an account without any credit checks or credit cards. The best part about Kikoff is that you can build credit for free as they believe that everyone should experience financial hope.
They have made way for credit invisible people to actually build a credit history complete free of charge. The company helps you build a consistent record of on-time payments to show the credit bureaus, and if you’re entirely new to credit, you can expect to see a 600+ score within just a month of starting out with them.
Someone else using your card?
Don’t just ignore looking at your monthly statements. You’d be surprised how many times ‘foreign’ items appear on it that you are being charged for.
When you have a credit card, you have to be aware of identity theft. You may be checking your credit records only to see that you owe thousands of dollars to all sorts of creditors and that a summons has also been issued against you!! You know nothing about the accounts opened in your name but the creditors could care less – they want their money.
Apart from checking your statements, get a free credit report from the major credit bureaus to make sure that all the action on it comes from you and not somebody else.
Pay your monthly bills
Did you know that you can actually build credit by paying for all your monthly bills faithfully? Your monthly utility bill and cell phone bill can be looked upon as credit-building tools. However, if you want to build your credit score, paying your utility bills on time isn’t enough. You have to pull off a number of strategies, such as keeping al debt utilization ratios low.
Also, there are tools that are free and easy to use. What they do is acknowledge positive payments of your bills and this allows you to build credit.
Connect the bank accounts you use to pay your bills and confirm that it be added to your credit files. Not only will you get a free credit report but your FICO score will be given to you as well.