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Building Credit Cred: Show Responsibility

How do you get credit?

You get credit by being responsible with credit.

Huh? How does that make any sense? How do people prove they can handle credit responsibly if they can’t get credit in the first place?

Right off the bat, developing a good credit score can seem a little discouraging. However, there are several ways for you to build your credit score.

Many banks, credit unions, retail stores, and gas stations offer low-limit credit cards for people with little or no credit history. Often, these credit cards have a $300 to $500 credit limit; occasionally, the cards are secured by your bank account, meaning that if you miss a payment, the credit card company is able to deduct the payment directly from your bank account. Alternatively, you could get a parent or other trusted adult with a good credit history to co-sign a credit card application for you. This allows their good credit to help you, but it means they’re responsible for the debt if you fail to make payments.