If you have a good history of managing your accounts and paying off your bills on time, chances are you may have established a decent or good credit score. If all of this is new to you, though, the thought of having to learn about healthy financial habits and then having to build credit may sound daunting. No need to fear! There are plenty of ways in which you can begin to build your credit from scratch. Everyone has to start somewhere and sometime, and the time may be now. Blue Trust Loans, a payday loan alternative lender, has ways to help you start building credit below.
Open a Credit Card Account
Credit cards play a huge role in building credit, but it’s very important that you utilize a credit card properly. Unfortunately, if misused, credit cards can bring you closer to the possibility of debt. To begin building good credit, you can use a credit card to make small purchases that you can either pay off right away or pay off in full at the end of each month. This will begin to prove reliable payment responsibility and you can start to build credit.
Take Out an Installment Loan
Taking out a short-term installment loan can help boost your credit history, especially when you pay these loans off on time. When you make agreed-upon payments for each month and you have the funds in your account, you’re continuously making payments that are on time, therefore helping to build your credit.
Become an Authorized User on an Account
A family member or good friend may be willing to add you as an authorized user on their account. You don’t even need to possess the physical card in order to be an authorized user on an account. This method of building your credit score may be best if you have a thin credit file. Being an authorized user on an account that has a good history can make your credit history look better and lower your overall credit card utilization.
Pay Student Loans on Time
While federal loans are available to anyone, credit or no credit, you can use your student loan payments to your advantage in both building or even improving your credit score. You may not even know it, but if you have taken out student loans in the past, you may already be taking steps towards building good credit. Paying off your student loans will help improve your credit history.
Credit is an important aspect of your financial health. It’s best to not only understand the basics of credit and credit scores but how you can stay on top of it as well. There are many other ways in which you can build your credit, so it’s best to make sure you’re taking advantage of the options available to you.
Blue Trust Loans provides an alternative to payday loans. We have minimal loan requirements compared to the eligibility criteria required by most banks or other traditional lenders. Like most payday loans and cash loans online, installment loans have a quick and easy application process that can be completed online and verified over the phone. Apply for cash online with Blue Trust Loans if you need emergency funding. You may be approved for an installment loan of up to $3,000. Learn more about Blue Trust Loans, our loan loyalty rewards program, and how you can qualify today. 877-770-2682
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The content on this site is for informational purposes only and is not professional financial advice. Blue Trust Loans does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if this information is safe and suitable for their own situation.
Hummingbird Funds, LLC is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Lac Courte Oreilles Band of Lake Superior Chippewa Indians (the “Tribe”), a federally-recognized sovereign American Indian Tribe. This means that the Hummingbird Funds’ installment loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that Hummingbird Funds is not subject to suit or service of process. Rather, Hummingbird Funds is regulated by the Tribe. If you do business with Hummingbird Funds, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in Hummingbird Funds’ contracts, these forums include informal, but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, Hummingbird Funds is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice Hummingbird Funds’ entitlement to these protections. Neither Hummingbird Funds nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this mobile site. If you are not comfortable doing business with a sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.