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5:07 am - Wednesday September 28, 2016

How To Get Credit For The First Time

| Credit Cards | Rating: 4.5
by Numan

The basic answer to the question about how can you can get credit is simply to apply for it. However, if this is your first time trying to get some credit, you may want to look at the following tips about how you can make your search for credit a little bit easier.

If you are trying to get your first credit card and have a checking or savings account, then your bank should be the first place to ask for credit. Ask your bank if it has a credit card for people with limited credit history.

You can also try going to a department store or an oil company. Credit cards issued by these establishments are easier to get than most major credit cards, like Visa or Mastercard. However, cards issued by these companies also have higher costs. Use these cards to build a good credit history so that you can qualify for a major credit card later on. Make sure you pay your balance in full each month so you won’t have any finance charges.

You may also want to try applying for a secured credit card. It requires you to make a deposit to receive a credit limit on your credit card. Some secured credit cards can be changed into non-secured cards after a certain period of positive credit history.

Don’t make several applications for credit. Each application shows up on your credit report and you might seem desperate for credit. And don’t just go for credit card offers that guarantee approval regardless of your credit history. They are usually scams that end up costing much more than you spend.

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