The Confidential Credit Card Report
The Authorities Are Hiding From You!
VOLUME 1
A positive credit history is an asset, not only when you apply for a credit card, but
also when you apply for a job or insurance, or when you want to finance a car or a
home. Here are three major ways to start establishing a credit record for yourself:
• Consider applying for a credit card issued by a local store and use it
responsibly. Ask if they report to a credit bureau. If they do, and if you pay
your bills on time, you'll establish a good credit history.
• Consider a secured credit card. To obtain a secured credit card, you open and
maintain a bank account or other asset account at a financial institution as
security for your line of credit. Your credit line will be a percentage of your
deposit, typically from 50 to 100 percent. Application and processing fees are
not uncommon for secured credit cards. In addition, secured credit cards
usually carry higher interest rates than traditional non-secured cards.
• Consider asking someone with an established credit history - perhaps a
relative - to co-sign the credit card account if you do not qualify for credit on
your own. The co-signer promises (guarantees) to pay your debts if you do not.
You will want to repay any debt promptly so you can build a positive credit
history and apply for a credit card in the future on your own.
If you are turned down for a credit card, ask why. It may be that you have not been at
your current address or job long enough, or your income may not meet the issuer's
criteria. Different credit card companies have different standards. However, if several
companies turn you down, it may indicate that you are not ready for a credit card.
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