How do you obtain credit?

Well, credit is obtained mostly by age, as I am learning now! There are so many things that can keep you from having good credit and getting loans, like your debt to income ratio, definately your age, credit history (or lack of…), revolving credit, etc. Basically, you need to have at least 1 major credit card (Mastercard, Visa, American Express, ect.) and put a tank of gas or something on it and pay it off every month (before there is interest added… ). The longer you have the credit card, the more your limit will rise and, if you have it for 3 years or more, it looks very good on your credit report. Also, when you apply for a credit card, loan, car, apartment, ect., The person considering you looks at your credit report. This is called an inquiry (it will drop your credit score a few points every time there is one) and it will stay on your credit report for up to 2 years. The more inquiries you have (over 10 is usually bad) the more your credit score will drop. Potential lenders will think that you are trying to take on too much debt at once. You could go to a bank and tell them that you are trying to build your credit up and see what they suggest, probably a credit card or a loan. Just make sure whenever you go to get a credit card or whatever else, you look at the interest rate, cause usually they are pretty high, like 25% on some. If you have any more questions, just ask!

wow, thanks!