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Building a Strong Credit History

by Promotions on Aug 12, 2009

       Building a Strong Credit History    Secured, co-signed and pre-paid credit cards offer viable options. But you should start building a strong credit history, so you can obtain a regular credit card on your own in the future. First, you need to understand how credit card issuers determine credit worthiness. The approval criteria varies from among issuing banks, but generally relates to what's often called the three C's of credit: capacity, character and collateral. Capacity refers to your ability to pay based on your income and existing debt. Collateral refers to any assets you have that can secure payment, such as bank accounts or home ownership. Character refers to factors like your payment history, length of employment, etc. To get a good idea about how your application will fare with credit card companies, check your credit history with one of the major credit...Read More >>



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