Q:

How do you start getting credit?

A:

Quick Answer

A person can start getting credit by applying for a starter credit card, according to LaToya Irby for About.com. A bank may offer beginning credit cards to bank customers who have a checking or savings account. Attaining a secured credit card is another option.

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Full Answer

Those who have little or no credit can get an oil company or store department card, notes Irby. These cards are easily accessible but come with higher interest rates; however, oil or department store cards can lead to future qualifications from major lenders. A secured credit card requires the user to deposit money to create a credit line. Users need to be 18 or older to use a card, but minors under 18 are authorized to use it for joint accounts with an adult.

Any type of starter card must be associated with a solid payment history to build good credit, reports Irby. Paying off the balance each month eliminates finance charges and accumulated debt. Making sure there is no negative activity on a checking and savings account is important as well, explains Dave Roos for HowStuffWorks. Lenders may decide whether to issue a credit card based on account activity. Many banks offer free checking accounts to those who do not have a credit history.

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