First Step to Bulid Your Credit History #1
After two months latter again I am going to start a new series about “Guide to Build Credit History” for beginner like students, unemployed and who have not outstanding income. And this will be the first part of this series. I have written several posts about “credit“, but first time I am writing about credit building where this is one of the major topic in this blog! What a bad blogger i am! By the way, Well Come to the Credit World.
Why you Should Start to Build?
Now it’s not only to get low interest rate on credit card or loan but it can determine whether you will get a job, buy a laptop or even an apartment, moreover you could save huge money. Elsewhere you go your credit history will be the representative of your finance. So a fair history will always be acceptable not only when you will apply for a credit but also for a nice shape of your finance.
You may already have seen that maximum credit card offers which have lowest interest rates, no annual fee, excellent rewards etc are require at least good credit rating (mostly known as Score, I will write down a post about it). But if you have no or bad history you could not apply for it.
We don’t know when we fall down into emergency, when we will extremely need money. But when emergency will come we have to go banks or other financial offices to get loan. But creditor who will give you the money at first they will check your history then determine to accept your application or not. As a good borrower you have to have a outstanding history. Otherwise you application will be decline. Can you say “Who wants to take such risk?“.
I have only tried to explain the importance of its, hope you may already have got the points. As a newbie in the credit world you should start to build your credit history right now, otherwise your personal finance can hurt for years. So you should careful about it. Here i am saying what you should do or don’t when you start to build and must remember, your credit history will not build over night, you have to wait and be patient.
01. Check Your Credit Report:
As a newbie you may be confuse after reading the heading. Right? Okay let me clear, I know you are thinking that “what I will see on my report? Are anything really there?” Good points. Although you will nothing found because you do not use any credit yet. But you should continue to check your report to prevent identity theft or any errors. Yes, if someone hack your identity and open any credit account with it, it will be reported on your credit report.
Also have possibility to mix others information on your report, errors i.e: credit activities that you did not do never ever. In this case you should contact with 3 major credit bureaus (Equifax, Experian, TransUnion).
Another Reason to Check: It’s free! Follow this link to Get Your Free Copy of Credit Report.
Hope you have enjoyed this post! Now you may want to subscribe on RSS FEED or Email Subscription to get next parts on this series. I will try to give details information. Have any questions to say?
