You can simply get a secured credit card from your bank. Secured, meaning that the card amount is backed by monies you currently have saved in that bank. Use the card for everyday purchases, then pay off the balance monthly, prior to interest charges hitting. By charging monthly, paying on time and clearing your balance monthly, this should help to improve your credit score.
Basically, paying all your bills on time and paying down your overall debt, should improve your credit score as well. Another basic rule should be, to pay more than your minimum payments on all credit cards monthly, especially if you are not able to payoff the entire balance monthly.
elonmousquetaire t1_iug3tr2 wrote
Reply to Credit building loophole. by [deleted]
You can simply get a secured credit card from your bank. Secured, meaning that the card amount is backed by monies you currently have saved in that bank. Use the card for everyday purchases, then pay off the balance monthly, prior to interest charges hitting. By charging monthly, paying on time and clearing your balance monthly, this should help to improve your credit score.
Basically, paying all your bills on time and paying down your overall debt, should improve your credit score as well. Another basic rule should be, to pay more than your minimum payments on all credit cards monthly, especially if you are not able to payoff the entire balance monthly.