Posts Tagged "building credit"

Building Credit

The Risks and Rewards of Using Credit   Your credit record reflects how well you managed your financial responsibilities over a certain period of time. Obviously, there are rewards for handling your credit well. Having a good credit report can give you the ability to: Improve your lifestyle through purchases that are only possible with […]

Authorized user account not appearing on the credit report

Dear Experian,

I checked my credit report online and saw that it says I have no credit cards. I am an authorized user on a card, and I pay the balance every month. Why doesn’t it appear on my report?

– MDM

Why it is important to establish credit when you are young

Dear Experian,

Why is it important to establish credit while you’re young? If I don’t establish any credit will it affect my future and why?

– OZY

Secured credit card can help build credit history and credit scores

Dear Experian,

A bank has a new credit card for those with poor credit. They say you have to put down a $300 deposit, and after that deposit they’ll give you the card. The bank told me it will help me bring up my credit score. Is that true?

– ERL

Helping child in college establish credit

Dear Experian,

My college freshman daughter applied for a credit card, was declined, and then applied for a secured card and was also declined. How can I help her build credit? She obviously has no history, but I am concerned that the two denials are going to hurt her score. I am at a loss on how she can build her own credit.

– UAR

Credit cards with low limits still can build strong credit

Dear Experian,

Do small available balance credit cards, such as retail cards or gas cards with say $300 available balance, help or hurt credit scores, even if no balance is owed?

– IND

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