Establishing First Time Credit
So if your brand new to the credit world and you want to establish credit there are some actually prettys easy steps. Its important to start establishing credit once you turn 18 and keep paying all your bills on time. But here are some things that lenders look for when you want to start establishing credit
Banks
Lenders look to your banks to see how much cash you have on hand as well as how often you use the account, and if you remain in good standing. You should try to remain with the same bank for long periods of time to keep the best credit.
Employment History
Another important factor when looking to establish credit is your employment. They like to see that your responsible and can hold a job for long periods of time. If your often skipping between jobs its not a good sign that your responsible.
Residential History
How often do you move? If you are moving every year it has a bad effect on your credit. If you own your own home or live with family then it’s a good sign to a creditor.
Utilities and cell phone
Utilities and cell phones in your name tell a creditor that you pay your bills on time. Using them as a reference is a great thing!