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How to Establish and Maintain Good Credit Records



Plastic and the Graduate—How to Establish and Maintain Good Credit Records

  • Get only one card with a low limit, starting at $300 to $500, and shop around for the lowest interest rate.
  • Pay off the entire balance monthly, or at least pay more than the monthly minimum.
  • Record every purchase in your checkbook, so you know the money's in your account.
  • Don't charge food or entertainment.
  • A secured card can reduce risks. You can only charge up to the amount you deposit as security at the issuing bank. Interest rates are as low as 8 percent, or half the rates for unsecured cards.