Ways to Build Credit


Credit score report with keyboard

Bad credit affects way more than not just getting that credit card you applied for. You may have to pay more for a loan. Your insurance premiums may go up. You might miss out on a great career opportunity since some states allow employers to pull consumer credit reports to make hiring decisions. You'll have a harder time renting an apartment, buying a home, or purchasing a car. That also includes utilities and the internet. And something that totally surprised me if that you won't be able to adopt a baby! I know this because my cousin and his wife adopted and they had their credit checked!

So it's time to get your credit back on track. Here are some tips to help:

Make debt payments more than once a month

Always pay bills on time

Open a secured credit card

Take out a personal loan

Do not depend on a debit card

Get credit for things you’re already doing

Become an authorized user on another person’s account

Add accounts strategically

Watch your mix of credit

Lower your credit utilization ratio by asking for a credit increase

Keep old accounts open

Review your credit report regularly and dispute errors

Find out the reasoning behind these tips HERE.

(RealSimple) Photo: Getty/Casper1774Studio