Credit Cards Improve Your Credit

Credit Cards Improve Your Credit

How do I improve My Credit?

I've heard so many different things about this topic. If you have A Credit account such as credit cards, credit accounts from stores, or loans your payments are being monitored thru credit agencies. Recently, I've heard phone and utilities are also reported to credit agencies. Is that true? As a college student, what can I do to Improve My Credit? I dont have any credit cards, a few charge-offs collections, and of course student loans.

The best way to start things off is to request a secured student Credit Card. The SECURED part means that a portion of the money in your bank account will be used as collateral against your balance due on the card. Because of that, your credit limit on the card is equal to the amount you specify as security when you set up the credit card account. The fact that it is a STUDENT card means that your bank will take into account that you probably have little to no income, but since you're a student they'll be lenient on the terms of the account, such as the APR. Here are some tips on Improving Credit for college students: http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php?article=2958

To answer your other question, YES, paying your utility bills on time will benefit your credit if they're under your name, because utilities are extended to an individual based on credit. Another thing that will help you is making sure you keep your debt to credit limit ratio under 35%. More Dos and Don'ts on How To Improve Your Credit: http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php?article=2940

Good luck!

Credit Cards & Financial Planning : Improving Your Credit Report

 

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Credit Cards Improve Your Credit

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Filed under: Repair Your Credit

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