If you’re just starting out or working on rebuilding your credit, a secured credit card might be a good option. How to Start Building Credit With a Secured Credit Card However, you have options, including opening a secured or student credit card, or becoming an authorized user on someone else’s credit card. That might be a challenge if you’ve never had a credit card, or if you have poor credit. Your credit score is one way for lenders to quickly determine how much money you can borrow and under what terms.īut what do you do if you’ve never had a credit card or borrowed money for anything? How will lenders know if you’re creditworthy? One option to consider to start building credit history is to get access to a credit card. In the case of FICO ® Scores, they range from 300-850. The bureaus create and maintain your credit reports, which become the basis for your credit score. How can you start building credit using a credit card? Many large credit card issuers and other lenders report your credit usage and payment record to the three major national credit bureaus: TransUnion, Equifax, and Experian.
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