Build good credit, check your credit, yada, yada. If you think having good credit is like flossing your teeth – it’s probably a good thing to do, but it really isn’t all that important right now, think again.
Like a cavity, bad credit is something you’ll live with for a long time – and it’s preventable.
Many people don’t worry about building a solid credit history until they need credit. One WP staffer told us that (pre-WP), he never gave establishing credit any thought. That was until he needed to buy a car. With a credit score in the mid- to upper-500s, there was no way that he was going to get an auto loan – at least one that was affordable. He learned the hard way.
But, you don’t have to. Commit to taking these small steps to improve your credit:
- Pay your bills on time.
- Check your credit every 12 months
- Make small additional principal payments monthly, if you can.
- Pay off any judgments or liens on your credit report – even the small ones.
- Establish checking and savings accounts.
- If you need to, get a secured credit card as a starting point
Another great way to build your credit file is to have your rent payments reported to a credit bureau. You can even get credit for payments you’ve already made – rent, utilities, mobile phone, daycare – using Bill Verification.
Start thinking about your credit today – before you wish you had. And, don’t forget to floss.
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