There are two ways of getting your first credit card. Slow way (with good credit rating assurances) and the fast way. The slow way is appropriate for the young. For those who want to get the first way, kindly wait for my next article. This article lists the slow and efficient way to get your first credit card.
Open a savings account. It shows stability and reliability.
Become an approved user for a friend’s or family member’s credit card. Don’t utilize this card and ensure the primary account owner is financially accountable.
Buy a student credit card.
Get an automobile loan. The interest may be high but it is the easy route to build good credit.
Make all account payments on time including utility bills, and mobile bills.
Maintain a clean employment record showing stability and consistency in job.
Maintain stability in places of residence. A fixed home address has a great positive effect on your credit rating.
Get a loan from peer to peer lenders who offer loan at lower rates than the banks. However, make sure they are authorized and report to all credit bureaus.
Receive your credit report copy annually ensuring there are no errors.
If all the above things are followed and taken care of, you will be able to get your first credit card effortlessly. Avoid missing even one payment as it leads to a negative credit score.
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