You can build a strong credit history if you use credit wisely over a period of time. It’s important not to wait until you need to borrow to think about whether you’ll qualify. Get a credit card. The easiest first step in building a good credit reputation is usually obtaining and using a credit card on a regular basis. If you don’t already have a credit card, you can apply for one that’s issued by the bank or credit union where you have an account. If your application is rejected, you can apply for a retail store card or a gasoline card. While the ways you can use these cards is more limited, using them wisely can help you establish your creditworthiness. As a last resort, you may consider what’s known as a secured credit card, which is typically linked to a savings account you maintain with the issuer. But be careful. Some of these cards have high fees and using one may not always help you get a regular card. Make payments on time. It’s essential to make at least the minimum payment on your credit card bill by the date it is due. In addition to the late   Read more…