“Establishing Credit” 03/08-09/08

It’s important to open accounts cautiously. You’ll build your credit a lot faster by opening different types of accounts, rather than just getting approved for a couple of credit cards. Even if you have all the money to pay for a car, consider financing just part of the purchase. Buying a computer? Think about the stores financing options.

When applying for large financed purchases, banks look at the proper management of different types of accounts and they’ll be more inclined to approve you.