How to Start Building Your Credit History

Mortgage and Lending with® A Mortgage Corporation NMLS #1326269

The first time you get a credit card or take out a loan, your credit history begins. Your credit history is what potential creditors and lenders use to determine if you can manage money responsibly. If you've never had credit, you are referred to as credit invisible, meaning you don’t have a credit history. 

Don't panic if you are credit invisible — there are strategies you can apply to go from "invisible" to "visible" and start building a credit history. By establishing a credit history with a positive pattern of payments over time, you can become a good candidate for a loan, banking product, and other products and services.

Here are just a few of the steps you can take to build a good credit history.

1. Report Your Rent Payment

Your on-time rent payments can be used to build credit with all three major credit bureaus.

Your landlord may already be automatically reporting to credit bureaus, but not all landlords do. Ask if your landlord is reporting your payments and if not, find out if they can.

To learn more about building your credit history and the home buying process, visit the SCOOP! Blog

Comments (1)

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Good points Jackie. If one cannot start with a traditional credit card get a secured credit card with a $500 credit limit. Use it to buy groceries and gas and pay the balance off each month and then build from there. 

Aug 02, 2021 09:13 PM
Jackie A. Graves

Hi Jeff, thank you for your comment. Stay posted for future blogs and make it a great day. 🙂

Aug 04, 2021 08:23 PM