Building your credit history
How do you establish your credit history? Even if you’ve never made a major purchase, there are ways to start building a good credit history and good a good credit score:
1. Open a checking account or savings account, or acquire a debit card. These do not create your credit file, but their existence will indicate that you have money and show something about how you manage it. Banks want to see stability and this will help.
2. Apply for a department store credit card or a major credit card (such as a MasterCard, Visa, or American Express card), and use it responsibly. Pay your credit card bills on time. You may need to look into getting a Secured Credit Card, we highly recommend this.
3. If you don’t qualify for credit on the basis of your own credit file, ask someone with an established credit history (like a parent) to co-sign your application. Remember, the co-signer promises to pay your debts if you don’t. We frown upon this method and prefer the Secured credit card .