Kick Starting Your Credit History By Becoming An Authorized User


There are many ways to get credit these days. One of the best ways to get one is to have your own credit card. It is also great since credit cards are an unsecured type of loan. The interest given may vary depending on what company you applied for.

Your ability to get credit hired! Fair or not, in this tight job market, employers often check your credit to determine if you are a responsible person with good character and judgment. Certain jobs, especially those in the finance industry or government jobs that mandate a security clearance, require you to have a good credit history. Bad credit can prevent you from being hired or promoted.

Past delinquency plays the largest role in hurting your credit score. One recent 30 day late payment will lower your credit score, most likely by 20 points! A couple of late payments, and your score will drop very far, very fast. 60 day lates hurt your score even more and 90 day lates are a real issue. It is important to know that the more recent the delinquency, the more negative the effect on your score. One 30 day late last month will hurt more than even a 90 day late 4-5 years ago (5-10 points).

is credit karma safe cards are a way of life and they are convenient. However, they can also be a problem if you aren’t using them like you should be. Society has made it acceptable to us them left and right for what you want and not just what you need. The concept of buy it now and pay for it later though can get you into serious financial trouble.

If you have a mortgage, car loan, or even utility payments, keep those payments current and pay them on time. Most of the time, these payments are reported on your credit report and if you keep them current and on time they will be reported to the credit reporting bureaus and will help rebuild your credit score.

The credit level or score is the result of the past line of credit made by the homeowners. In the U.S.A, there were three agencies keeping of records for every customer’s line of credit. Those agencies were Experian, Equifax and TransUnion. Those three agencies will have to be reached by the homeowners who wanted to raise their credit scores.

New credit means brand new accounts recently open. You do have to start somewhere, but build slowly. If you have just applied for 10 credit cards, banks tend to assume the possibility that maybe you’ve lost your job and are in need of a back up plan. Try to start with one small line of credit and build from there. Make sure that you can handle the payments consistently, are never late, and keep your balances as low as possible, or completely paid off.