Marvin called in wanting to know what a young person just starting out should do to establish credit. Marvin is already ahead of the game & recently obtained a secured credit card. We explore secured credit cards & how paying your rent can also help you establish credit.
Secured Credit Cards
Here is a good starter list of secured credit cards. This is only a list of suggestions. Please make sure that you do your research & carefully review each card before applying.
Reporting Rent Payments
If secured credit cards aren’t your thing or you’re looking for additional ways to build credit, services such as Rent Reporters, will help you get your rent payments reported to the credit bureaus. These services will coordinate with your landlord to get the information needed added to your credit report. These are paid services so make sure that you do your research before paying.
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