Difference between revisions of "Build Good Credit"
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| − | + | A good credit score is an essential part of getting good loans and evening the playing field with lenders. The average FICO credit score for Americans is roughly 720, meaning that half of Americans have a worse credit score and half have a better score.<ref>http://money.msn.com/credit-rating/raise-your-credit-score-to-740-weston.aspx</ref> The only way to establish good credit is to actually to start buying on credit. This is the only way to establish a credit history which reveals your ability to pay for things that you buy or use. | |
[[Category:Credit and Debt]] | [[Category:Credit and Debt]] | ||
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#Make sure your credit is attached to the major companies. You want your information reported to the major credit reporting companies, if possible. These are the ones lenders are most likely to check, so if you only have one credit card and it reports only to a small company, you're in trouble. This is where having more than one credit card or bank account, etc, can come in handy. | #Make sure your credit is attached to the major companies. You want your information reported to the major credit reporting companies, if possible. These are the ones lenders are most likely to check, so if you only have one credit card and it reports only to a small company, you're in trouble. This is where having more than one credit card or bank account, etc, can come in handy. | ||
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== Tips == | == Tips == | ||
