Building a good credit history from the beginning

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Credit Card Applications » Research » Guides » Building Credit History » Building a good credit history from the beginning

Building a good credit history from the beginning


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

When it comes to credit history, we would all like to do our part and ensure that our credit history is along the right lines. Hence, taking in some effort from the beginning is probably a wise thing to do as this can really help benefit you in the long run. You might want to learn about the different things that people implement in order to take care of their credit records and not face any problems later on. Listed below are some measures that you can implement in order to have a good credit record that can help you in different stages of your life.

Repaying debts on time

Don`t wait till the very last minute in order to foot your debts. You might want to be careful and take the due date into consideration before postponing any of the debts. It is highly recommended that you pay these debts back as soon as possible, as accumulating them can only lead to problems later on. The quickest way to a building a bad credit history is by not paying your loan installments and defaulting on other payments as well. Ideally, you would want to avoid all of this.

Keeping a tab on your credit cards

The other thing that you might want to keep an account of would perhaps be to check the limit on your credit cards and not exceed it all the time. Also, paying back your credit card bills before the due date is a healthy exercise. Additionally, it might also help if you restrict the number of credit cards that you have to a manageable number. In this manner, you can ensure that your credit history reflects your ability to save and also gives creditors that confidence that you will repay the money back on time.

In this way, there are a number of different methods that you can follow in order to build a stellar credit history. Don`t get carried away by what you read in the newspaper, as the people that are in financial hardship are the ones that didn`t take any responsibility from an early stage. Hence, it is advisable to do your part and not worry about others. If you do everything like you are expected to, you wouldn`¯t have to struggle as much when it comes to getting credit cards or even good rates on loans that you might be applying for.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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