Up next in Credit & Credit Cards (16 videos)
Save money and stay out of debt with the advice in this Howcast video series about credit and credit cards.
You Will Need
- Credit type desired
- Credit sources
- Your credit report
- Your credit score
- Credit worthiness
Identify the type of credit needed
Identify the type of credit you need based on how you plan to use it. Options include a credit card, a line of credit, or a secured or unsecured installment loan.
Know the sources
Know the sources for different types of credit. Commercial banks, credit unions, consumer finance companies, or even pawnbrokers, offer credit opportunities. Match the source to your need.
Obtain your free credit report
Obtain your free credit report from one of the three major reporting companies, and learn your credit score to assess your credit worthiness.
Improve your credit score
Improve your credit score by paying bills on time, maintaining a checking and savings account, paying off debt, or piggybacking on a spouse's good credit.
Prove you are a good risk
Prove you are a good risk by showing stability as an employee, home owner, or renter, and the ability to comply with a creditor's standards.
Apply for credit
Apply for credit at the appropriate institution. If successful in getting a credit card or loan, protect it, and use the privilege wisely to better your financial plan.