Establish checking and savings accounts.
Lenders see these accounts as signs of stability. Opening checking and savings account is also one of the few things you can do as a minor to start building a financial history.

How do I get the best possible credit score?
To get the best credit score, you need a mix of different credit types including revolving accounts (credit cards, lines of credit) and installment accounts (auto loans, personal loans, mortgages).

What are the two most important things that affect my credit?
Whether you pay your bills on time and how much of your available credit you actually use.

How much of my available credit should I use?
You don't want to max out any of your credit cards, or even get close. Keeping your credit use to less than 30% of your credit limits will help you get the best possible credit score.

Do I need to have credit cards to have a good credit score?
You don't need to carry a balance on a credit card to have a good credit score. Paying your bill off in full is one of the best ways to build your credit. Your ability to pay your credit card debt responsibly will be available for you to view on your credit reports. Opening many credit accounts in a short period of time can make you look like a risky customer. You should probably keep your credit card usage between three and five.

How can I get good credit quickly?
One of the fastest ways to establish a credit history is by being added to a credit card as an authorized or joint user or by getting someone to co-sign a loan with you. Having a co-signer can allow you to qualify for credit card limits and loans you might not otherwise get. The loan will show up on your credit report and, if you pay it off responsibly, will help boost your credit score. You may not be able to piggyback of someone's credit. Some credit issuers won't report authorized users to the credit bureaus, particularly if the user is not married to the original card holder. The person who is adding you as an authorized user should call the issuer and ask how (or if) your status as a user will be reported.

Should I apply for credit while I am a college student?
As a college student, you are more likely to get a credit card than many other people. Lenders are willing to take risks with you that they won't once you graduate.

What should I look for in a credit card?
You should exercise some caution. Look for a card(s) with a low or no application or annual fee and low interest rates. You'll want to screen your card issuer carefully. Some credit companies charge outrageous application or annual fees and punitively high interest rates.

What if I can't get a credit card?
You can apply for a secured credit card, if you can't get a regular credit card. These require you to deposit money with a lender; your credit limit is usually equal to the deposit.

How can a credit union help?
If you are a member of a credit union, you might inquire if they have secured cards. You can also check Bankrate.com to see a list of secured credit card issuers.

What should I look for in a secured card?
Try to find a secured card with no application fee, no annual fee, and that converts to a regular, unsecured credit card after 12 to 18 months of on-time payments.

Does my credit card company send records of my payments to the three credit reporting bureaus?
You want your credit card company to report to all three credit bureaus, so you can quickly build your credit score. If your credit card company only reports to one bureau, then you won’t build your credit score a quickly.

Should I get a finance company card?
Gas companies and department stores that issue charge cards often use finance companies, rather than major banks, to handle the transactions. These cards don't do not have as much power over your credit score as bank cards (Visa, MasterCard, Discover, etc.), but they are usually easier to receive. One or two of these cards is enough. If you get many more, you could case your credit score to go down.

Should I get an installment loan?
To get the best credit score, you need a mix of different credit types including revolving accounts (credit cards, lines of credit) and installment accounts (auto loans, personal loans, mortgages).

How often is my credit updated?
For a credit score to be generated, you have to have had credit for at least six months, with at least one of your accounts updated in the past six months. Using your cards regularly should ensure that your report is updated regularly.

What are some of the mistake that I should look for once I have received my credit reports?
Somebody else information could be mixed in with your report, either through a credit bureau mistake or because of identity theft.

How can I help my children build a good credit history?
There are not many things that a minor can do to build credit, except open a checking account. While you can’t get a credit card in your own name until you are 18, many banks will let minors open an account. A minor can also open a joint account with an adult.

What are the advantages to opening a joint account?
If your mother or father makes you an authorized user of his credit card, his history with that account can be imported to your credit bureau file, giving you an instant credit record. If he has handled the account well, that reflects well on you. But if he hasn't, his mistakes would also become yours. Any late payments or other problems could make it harder for you to get future credit than if you would have established your own history without help.

How will late payment affect my credit score?
If you do not pay your bills on time, you will loose points on your credit score. Set up automatic payments or reminder systems so that you don’t pay any bills late. Paying all your bills off in full is the best way to keep your finances in shape and build your credit at the same time.