It is well known that establishing credit is an important step if you want to get ahead in life. Whether you want to get a good contract with a landlord, a mortgage, or a car loan, you need a good credit score. The problem is that if you do not have good credit, it is hard to get a credit card. This leaves people wondering how to start.
The first possible way is to get a secured credit card. This is a credit card that requires a deposit. If your deposit is only two hundred dollars, then your credit line will only be two hundred dollars. However, it is a good way to start building your credit if you pay your bills on time. As your credit score gets better, you can open other credit card accounts.
Another way is to simply get a cosigner. A co-signer can guarantee to pay back your debt if they have a good credit score. This is a good way to start if you do not want to make a security deposit and if you have someone who trusts you who is willing to act as a co-signer. Similarly to a co-signer, you can become an authorized user on someone else’s credit card. Another way is to always pay back your loans on time. If you have student loans or auto loans, for example, make sure to pay them on time.
FreedomPlus, part of the Freedom Financial Network, is a company that underwrites loans to prime and subprime consumers. FreedomPlus lets people get started by signing out a simple online form and then speaking with a loan consultant. Borrowers can sometimes qualify the same day, and loans are often between ten thousand and thirty five thousand dollars.
About FreedomPlus: my.freedomplus.com/