jump to navigation

The Easiest Way To Establish Good Credit December 7, 2006

Posted by Jay Medina in Informative Articles and Free Reports.

I found this on another blog.  Thanks to Tom Voli in Irvine, CA for allowing me to share this article with you today.  Thank you for reading and for doing something positive today.

The easiest way to establish good credit

Your credit score is a reflection of your payment history, credit limits, balances etc. A score requires activity to make it’s judgment which obviously will require open credit accounts reporting monthly. Here is the easiest way to either rebuild a credit profile that has had some problems or for establishing credit for the first time.

It is important that you have an established account that reports positive activity. If you are rebuilding credit this can be a credit card that has been paid off. Even if that card has had negative activity it will help scores as you pay timely and can bring you back to credit worthiness in many lenders eyes over a period of a few months – 2 years (depending on the deragatory info).

If you have no open accounts or are establishing your credit profile for the first time I suggest opening a secured credit card account. These are offered by many banks who will give you a credit card with a limit equal to a savings account deposit you open with them. The savings account is held as security for the credit card you are given. You must be 18 years of age or have a co-signer to be permitted to open a secured card account.

New credit profiles that pay more than the minimum payment on time each month will quickly build good credit and establish solid credit worthiness. One of the scoring factors is age of credit accounts so it takes time to really build the credit profile but after 6 – 12 months you should be getting applications for unsecured credit cards in the mail. It is very important that you only take what you need and can afford. Self control is probably the biggest tool you have for building your credit profile.

If you’d like more information on how to establish good credit, contact me here.



1. Shastri Hendricks - December 7, 2006

Thanks for the information, these blog entries have been very informative.

2. Jay Medina - December 7, 2006

You are so very welcome, Shastri! Please be sure to tell others about this online journal, so that together, we can get the word out.

Thanks for being a regular reader!

3. Wallace - May 2, 2007

Thanks for the addition information on how people
can improve their credit. The more good advice a
person gets the better.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: