September 01, 2015

5 Steps to Establishing a Credit History

Sign pointing to good credit

Whether you want to rent an apartment or buy a home, your credit history helps open the door. If you’re just starting out on your own and haven’t yet established your creditworthiness, a recent USA Today article cited this advice on how to build a great credit score from scratch:

  • Start your credit history with a credit card.
  • Pay your bills – on loans, credit cards, utilities, and health care, for example – on time.
  • Keep your debt in check.
  • Monitor your credit reports and credit scores.
  • Be patient. History takes time.

For more helpful hints on building good credit and understanding the importance of credit, visit My Home by Freddie MacSM.

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