How To Build Your Credit
A lot of people ask me how was I able to achieve an 800+ credit score. So today I'll share with you a few tips on building your credit. A few years ago I didn't even have a credit score, while applying for a credit card I was told I wasn't approved because 1. I had no prior credit history OR 2. I had derogatory marks on my credit report. A few years before applying for a credit card my social security card was stolen along with my I.D. and a few other things. I am assuming that the person that took my social also took it upon themself to sign up for a few cards as well. It was close to $1,000+ that was owed (the person applied for some type of loan) and I didn't know much about credit at the time so I just left it on my report until it disappeared. Years later I started looking again into building credit but this time I went into the bank (BOA) and applied for a secured card. With the secured card I had to put down a $100 deposit and was given a total of $500 on the card. I was told I would get the $100 at the end of the year once I make 6+ consecutive payments. After the year was up I was given my $100 back and also a credit limit increase, within a year I had boosted my credit score to 730+. Although it was nice to be in the 700 club I still didn't have a healthy mixture of credit. If you want a top FICO credit score – the kind that gets you the best rates, the highest limits and the sweetest deals – you’re going to have to mix it up a bit. Lenders like to see consumers with a history of on-time payments across each type of account, to demonstrate responsible credit management. As time progressed I applied for CAPITAL ONE, APPLE, TARGET, F21, and another BOA card. I love my BOA cards it literately pays the monthly bill for itself with all the cashback perks. I also really enjoy my apple card which I got when I was in need of a laptop, I wanted to get one of the best laptop in the market. When I applied for apple I was approved for $2,000 and that's exactly how much my laptop cost, they gave me 12-18 months to pay it off with 0% interest. After paying off the card within the promotional period I was given a $2,500+ increase on my credit line totally up to $4,500! Thanks apple! lol..
Now enough about me but what about you? Have you applied for a credit card and was denied? Here are a few ways you can build you credit starting TODAY! :
Apply for a secured credit card. If you're building your credit score from scratch, you'll likely need to start with a secured credit card.
Apply for a credit-builder loan.
Get a co-signer.
Become an authorized user on someone else's credit card.
Get credit for the rent + bills you pay.
If you have a CC - request a credit limit increase
Non-profit lending circle
Get a Self-Lender Account
Pay student loans diligently