How to Establish & Maintain Good Credit

First of all, if you have not yet established a credit history you should start immediately. After all, obtaining and maintaining a good credit profile is the key to purchasing that new home, car, or any other type of loan. The only thing credit grantors know about you when applying for credit is your overall credit worthiness.

Start establishing credit by trying to obtain credit from department stores, credit unions and your local bank. When applying, also find out if these credit grantors report to one of the three major credit bureau's (Experian, Equifax, Trans Union) so that you may begin to build a credit history with them.

If you are having a hard time obtaining credit, you can get a "secured" credit card. This is guaranteed to you as long as you make a deposit with the issuing card company. You can also apply for a small loan and ask a relative or friend to co-sign.

Regularly Review and Monitor Your Credit Report

Once you have re-established or just recently established credit, you want to keep it in "good standing". Provide that you made all your payments on time.

Regularly at least twice (2) a year you should review your credit reports with all three credit bureau's. The reason you should always check all three is because credit bureau's do not share their information. For example: a certain credit bureau may not have the same information on file as another credit

Most credit reports contain inaccurate information. Some are just by small errors and others are by fraud also know as "Identity Theft". You can protect your good name using a service called "Credit Monitoring." Instead of having to review your credit report twice a year, order Credit Monitoring for one year and be notified quarterly by mail of ANY changes within your credit profile. Such to include recent inquires, derogatory items, fraud, and see if someone else is using your name. bureau.