Is there a safe way to establish credit?
Answer:
Avoid Capital One. Get yourself a secured card with a bank like Wells Fargo or Washington Mutual. Start out with a small balance like $300 and use the card like cash but pay it off each month. They hold your money and allow you to use it even though they chage you interest for doing so. Set up the payments to automatically come out of an account so you are never late. Start this way and then grow into another unsecured bank card with your bank. Avoid store cards - they often have higher rates and will entice you to use them with delayed payments.
get a credit card and only make small purchases on it, and pay it off every month.
Go to your bank and ask about a scured credit card, you pay up front that way the money is already on your card and it goes on your credit just like a ordinary credit card. Also, what about dept. store charge cards? They have smaller limits and you cant use them everywhere.
The safest way to establish credit is nit to borrow more than you can repay. A credit card, used within your means, id a good way to establish credit. Cash secured cards are not always reported to the credit bureaus and may not have any effect on your history. If you never charge more than you can pay in full when the bill comes you will have great credit.
Get a couple of credit cards, purchase things that you can afford, and pay off the balance every month. It is very tempting to get multiple cards but don't carry more than three credit cards.
There are a few ways:
Read this excellent article. http://www.expert-credit-advice.com/buil.
Its from an expert!
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Take Care!
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