Establish a good credit

 
 

The way in which you manage your credit is part of your financial life and will impact your future. Many times we want something and say, "I'll charge it." Remember that paying with credit cards is the same as making a loan; you'll have to pay it later. 

To establish a good credit history:

  • Apply for credit according to your needs; don't borrow too much.
  • If you do not have a credit history, you have two options:

    1. Guarantee the loan with a savings account, a certificate of deposit (CD) or a house.

    2. Find a person with a good credit history who can act as your guarantor.


Is Your Credit Affected? The following steps could help you to fix it:

1. Ask for your free, annual credit report at www.annualcreditreport.com, by phone at 
    1-877-322-8288 or by mail at:
 

  • Annual Credit Report Request Service
    P.O. Box 105281
    Atlanta, GA 30348-5281
     

You can also ask for it directly, through any of the following credit agencies:

  • EQUIFAX
    To apply for a credit report: 1-800-685-1111 
  • EXPERIAN
    To apply for a credit report: 1-888-397-3742
  • TRANSUNION
    To apply for a credit report: 1-800-916-8800


2. Verify the accuracy of the information included in the report.

3. If you find erroneous or obsolete information, ask the credit agency for an investigation, in
    writing.

4. Continue paying your current accounts as agreed.

5. If you are unable to meet your financial obligations due to a change in your financial 
    situation, immediately call your creditor.