Students: Establish Credit Fast with the 90 Day Credit Sprint!
A Simple, 3-Step Blueprint to Establish New Credit in 90 Days, for Students with No Credit History.
All of us have been in a situation where we didn't have any credit and trying to figure out how to obtain and build it can be mind boggling.
Either way, the road to building your credit doesn't have to have to be complicated.
And guess what:
You're in luck, you won't have to go through the learning pains that we did.
That is why we created the 90 Day Credit Sprint, so that you can take the right path to establishing your credit and building your buying power.
Just follow our 3 step process below to get things up and running and to increase your score by 50 - 100 points with in 90 days.
Open The Credit Door
Open tradelines and knock out timely payments
The first step to establishing new credit is to actually obtain your first credit tradelines such as credit cards or loans and paying your bills on time.
Now, I am sure you are thinking, how can I get credit, if I don't have credit, but hear me out:
There are currently two options for you as a student, the first option is a student credit card and the second option is what is known as a secured option.
The student credit card option will be an unsecured option and usually much easier to qualify for if you are a student.
The other options will allow you to establish new credit and gives you some control of the credit limit or the loan amount that you start with, these products are either a merchandise account, a credit builder loan, or a secured credit card.
The best thing about establishing new credit is that you get to be in control of your number of trade lines, your credit limit, or loan amount.
If you don't know exactly how these products work then you can check our Definitive Guide To Student Credit Cards, or check out Definitive Guide To Credit Builder Loans or read our Definitive Guide To Secured Credit Cards.
Time is of the essence when it comes to building a strong credit profile so don't wait, below is the first step you need to take for your 90 Day Credit Sprint.
Step 1 Action Item(s):
Borrow A Key
Get a family member or friend to add you as an authorized user
If you have a friend or family member with great credit, having them add you as an authorized user to one of their credit cards would give you a quick boost to your credit profile and credit score.
Even though you are asking for someone to put you on their credit card and help your credit profile grow, you still need to make sure you ask someone with a solid payment history that isn't late on their bills.
This is important because when you become an authorized user, their credit card will show on your credit report as your own account. You won't be financially responsible for the credit card; however, if they have a late payment, it can negatively affect your credit profile and score.
If you know someone who you trust that wont mind adding you, this option is super fast and a very easy action item to boost your credit.
Step 2 Action Item(s):
Secure The Door
Monitor your credit and protect it from inaccuracies
The Final step in this process is going to be to Secure The Door, because when it comes to credit, the worst thing you can do is set it and forget it, you need to be constantly monitoring it for updates and changes.
As you add new types of credit and or get someone to add you as an authorized user, you will generate a credit score and a credit profile.
You want to make sure that any information on your report is accurate and that you get an alert anytime something changes on your report.
You need to be monitoring your credit daily if you are serious about growing your credit and establishing a strong profile.
If you don't know exactly how credit monitoring works then you can check our Definitive Guide To Credit Monitoring.
It is imperative that you don't move slow when trying to rebuild your credit, below is the third and final step you need to take for your 90 Day Credit Sprint.
Step 3 Action Item(s):