Build Credit Without Going Into Debt

I'm often asked the question how do I build my credit without going into debt???

Build Credit Without Going Into Debt

If you have ever filed for bankruptcy or just starting out you

may not know where to begin.

I came across an article that addressed this same subject.

Source Main Street – How to Build Credit Without Going Into Debt

"Increasingly, credit reports are used by landlords and even employers to decide if you're right for an apartment or a job. This makes it more crucial than ever to have a good credit score."

According to the article it is impossible to purchase a car or get a mortgage if you don't

have a credit history.

One the best ways to start to start to build credit without going into debt  is with a secured

credit card.

With a secured credit card you can establish credit as if you have an unsecured credit card.

Once you have a secured credit card you will want to make sure that you payoff the

balance each month.

The best place to get a secured credit card is with the bank institute that you are already

using.

The article also suggest using a company called Williampaid.

This company allows for your rent to be reported by your landlord into Vantage Score.

What a great way to build credit without going into debt by having your rent reported to a

credit agency.

You must make sure that you pay your rent on time for this to have a positive effect on

your credit score.

The Williampaid service is free to consumers which makes it a great option to build credit

without going into debt.

The last thing the article points out when you build credit without going into debt you

need to know the difference between debt and credit.

"One important distinction to make is the difference between credit and debt: Debt is

long term while credit is just access to money that you don't have at the moment."

Many people don't look at the difference between debt and credit when they are making

financial decisions.

With your secured credit don't charge what you can't pay off when the bill comes each

month.

You defeat the purpose of building credit without going into debt if you carry a balance.

How will you build credit without going into debt???

Your Financial Coach,

Renee Lawson