FactACT

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Building your credit If you are among the millions of americans who have little, no or even bad credit, applying for and getting credit can be an overwhelming task. When you do not have a credit history that a creditor approves of you can find yourself receiving a cold shoulder from creditors. Figuring out how to build your credit is no easy task. Many people fall victim to credit repair agencies which can actually cause more problems for the consumer than they fix. Here are some easy things you can do to help build and restore your credit: Open a saving and checking account With a minimal amount many banks will offer you free checking and saving accounts. Lenders like to know you 'have money in the bank'. Over time as you build your savings account it shows the lender that you are looking towards the future and not living in the now. Apply for a credit card For those who do not qualify for traditional credit cards don't fret there is another option. Opening a credit card with a deposit or even a prepaid is an option for you. Chase credit cards are one way to build credit Get your credit report Pulling your credit report can be one of the most important step you will take. When you pull your credit you are presented with exactly what the lenders can see about you, for better or worse. Print out your credit report and review every line on your report. Check and verify all late payments as well as all accounts in a negative state. Report any errors to the credit reporting agencies. For more tips on building your credit a simple search will help you out. Unfortunately you can not expect your credit to change overnight but with determination and persistence you can make a positive change to your credit.

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