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| Credit History (Photo credit: LendingMemo) |
Are you the kind of person who has never had a credit card
or any kind of debt? If so, you may pride yourself on this fact. And, while
it’s certainly good not to have any debt, not having any credit can be almost
as detrimental as having very bad credit. When you try to buy a home or a car
or any other expensive item, you may find yourself having to settle for a Texas bad credit car loan
or other type of loan.
While there’s certainly nothing wrong with taking advantage
of a bad credit car loan online or via a local office, it’s never a bad idea to
start building a positive credit history. One easy thing you can do to start
building credit now is to take out a secured credit card, which is simply a
credit card account that you open with a deposit. Typically the credit limits
are small, often equal to your deposit, but these cards give you a chance to
prove that you are honorable and trustworthy and to build your credit.
You may also want to think about taking out another card,
making small purchases on the card, and then paying them off promptly. Really,
anything that you can do to show that you are capable of managing credit
successfully will prove your trustworthiness and benefit you in the long run.
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