It takes positive credit to have a great credit score.  The longer you have had credit and the more you have the better.  The easiest, least expensive credit lines to get when you start out are revolving lines. You do not need to keep a balance owing.  As a matter of fact you should not use over 30% of your revolving credit limits. Eventually you will need to develop a mix of revolving, installment and mortgage accounts to maximize your credit scores.  Let’s get you on the fast track.

Authorized User Accounts

If you have someone in your life who knows you, loves you and trusts you that has good credit the may help you fast track your credit.  This happens by them adding you to some of their existing revolving credit card accounts as an authorized user.  You do not need to posses the card or have access to the account.  You will get the credit history of their credit line on your credit report.  They should have a good long payment history on the account and never use over 30% of the credit line.  The older the account is and the higher the credit limit the better.  They just need to have the card issuer add you as a authorized user.  The card can be mailed to them and they may remove you any time.

This will help you to qualify for better credit lines of your own faster.  It is important that you do this as some of the FICO mortgage scoring models will not score authorized user accounts.

Easy to qualify revolving credit

These acounts are extremely easy to qualify for. They are very srong on your credit report. You can put 15K of individual revolving credit lines on your report quickly. This is an pretty inexpensive way to establish a lot of positive credit..

Here is a very good account to start building positive credit. It is super easy to qualify for Jewelry and has a $5000 credit limit. Reports to all three bureaus.

You must meet the following criteria to be reported:
  1. Be approved by the finance department
  2. Place an initial order of $100.00 or greater
  3. Digitally e-sign contracts
  4. Complete down payment

Here is another account to start building positive credit. 5K, Unsecured Revolving line of Credit. They have a wide variety of goods, many in a slightly higher price range. They also report to all three bureaus.

You must meet the following criteria to be reported:
  1. Be approved by the finance department
  2. Place an initial order of $100.00 or greater
  3. Digitally e-sign contracts
  4. Complete down payment

Here is a another very good account to start building positive credit. 5K, Unsecured Revolving line of Credit for Household and Electronics. Reports to Equifax and Experian.

    1. You must meet the following criteria to be reported:

 

  1. Be approved by the finance department.
  2. Place an initial order of $100.00 or greater.
  3. Digitally e-sign contracts.
  4. Complete down payment.

You can have rent payment reported to all three credit bureaus. This is reported as a installment loan to help your credit mix!

This is an easy one.  You either have a house payment or pay rent.  Now rent can be added to your credit reports.
This is the only service I have seen that reports to all three bureaus.
If there are no installment loans are your report this will improve the mix and your credit score.

Here is a good selection of Credit Cards to get your credit started.

If you have no cards we suggest starting with a couple of secured cards.  Otherwise select offer appropriate to your credit score.

 

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