Establishing Solid Credit
By Buff on Jan 1, 2008 in Finance
Today’s real estate market and overall financial market depends much on credit. In the past, cash transactions have been the most important mode of doing business, but that seems to have gone by the wayside in recent times. In fact, today’s economy is so credit based that most feel that you have to have access to a credit line in order to survive. With that in mind, here are some ways to establishing good credit.
The first, best, and most trusted way to establish a good credit history is by holding credit cards (tarjetas de credito). It isn’t enough to simply have your name on a free credit card (tarjeta de credito gratis), though. You have to accumulate a balance and then pay that balance off on time in order to show the credit companies that you can be trusted with their line of credit.
In addition to that, young people should know that simply having open bank accounts and managing those bank accounts well is a good way to start building credit. Your credit score won’t go up a whole lot just by having a bank account (cuentas bancarias), but you will find that it gives you a solid foundation on which you can build towards the future.
There are lots of ways to improve your credit and establish credit in addition to these, but these two are easy, simply ways to get started from scratch.
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