As you may have read in the article posted What Is the Secret to Develop a High Credit Score? there are two basic ways to approach credit acquisition. The Traditional Way, and by Adding Yourself as and Authorized User. There are pro’s and conns to both methods, but in this video we’re going to focus mainly on how to select the cards themselves.
Step one: Correct all inaccuracies and remove as many inquiries and negative items as possible! I cannot stress this enough. You should have no more than 3 inquiries on your credit in the last 2 years. Any excessive inquiries and negative items will hurt your chances of getting approved for credit.
Step two: Know your score. Once you have your credit in shape, you should know your FICO scores for all 3 bureaus. If you go the traditional route, you can apply for the starter cards that we have mentioned in the article. Again we have no affiliation with these companies or brands, I’m simply sharing what I have seen work consistently. You can also go the faster route, in which you are added to an account as an authorized user before pursuing any lines of credit.
Step three: You can now visit CreditKarma.com or any other site you prefer to find the latest credit cards being offered with consumer reviews. You can select your score range and other variables to decide what type of card you want based on your score and personal needs. Always check multiple sources! Next check creditboards.com and click the “Credit Pulls” tab. You can search a creditor and see what bureau they pull and what score is needed to find out how previous consumers got approved for a specific card. This is important to know before applying for any credit. Check out our next article to find out more about how your credit works and what you can start doing RIGHT NOW to improve your score.