Is It Easy to Establish Credit History?

It goes without saying that you won’t be able to get the best credit products with advantageous features without good credit history. However, building hood credit history is not so easy as it may seem. It requires a lot of time and efforts.

Today many people face the problem of establishing sufficient credit history. It may seem quite easy to apply for a plastic. However, there is no guarantee that this or that credit card will be useful for building good credit. The fact is that plastics for no credit score are not so good, as those for good or excellent credit history. What is the best choice for people with no credit? In fact there are several tips for people who plan to establish credit. Learn how to build credit history and use your plastics responsibly.It’s true that it is almost impossible to get the best credit card, if you have no credit history. As a rule, creditors are extremely particular about this very point. And it is a kind of the endless circle: for obtaining plastics you need payment history, and to establish your credit history you need to carry credit cards. Nevertheless, you still have an opportunity to establish your credit history, even if most creditors are not willing to give you plastics.

Mind that there are banks and credit card companies specializing in credit products for people with bad or no credit history. And these credit products can be a helping hand for people who do their best to build a solid credit history. For example, credit cards from First PREMIER bank can be the best choice for you. Having these plastics you may be sure that all your credit activity will be reported to 4 credit bureaus.

Remember that since you don’t have credit history, your creditors will take other factors into account. These factors help them to estimate your creditworthiness. For instance, one of these factors can be your employment history. Your steady income, the way you hold your job, and periods of your unemployment will be more important for your creditors than the words about your trustworthiness and responsibility.

Secured credit cards can also help you to establish your credit history. One of the peculiarities of these plastics is that to activate your account you are to deposit a sum of money in the bank. This amount of money will determine your credit line. These credit cards will prevent you from getting into debt, as you won’t be able to spend more than you deposited.

So, no credit history is not a problem. You still have a chance to establish your credit history and build your financial future.

Melissa Clark

Melissa Clark is a personal finance reporter at Creditmergency. She has earned a master’s degree in business and economic reporting from New York University. Clark has a bachelor’s degree in journalism from Syracuse University and grew up in Miami, Fl.