Credit Score
Our daughter is a college graduate, gainfully employed as an educator, lives at home, has investments and Roth IRA’s and no debt. She also does not have a credit card. With no loan history or debt, what is her best course of action to begin earning a credit score?
Terry Says
Well, first she should check her existing credit report at one of the three bureaus. The easiest way to get a totally free credit report is through www.AnnualCreditReport.com.
Then she should get a “secured” credit card — issued by a bank where she has a deposit in a savings account. Find one here: https://www.creditcards.com/secured/
Her line of credit will be the amount of her deposit. She should use the card every month, and pay the bill IN FULL AND ON TIME! that will quickly build her credit, and soon she will get other offers. Tell her to keep up the ontime payment habit and never pay a penny of interest!
