- 1). Request a free copy of your credit report (see Resources). Just because you have not opened an account does not mean you do not have a credit report; someone may have stolen your identity and opened accounts in your name. If your credit report has errors, you need to correct them so they do not negatively affect future applications for credit.
- 2). Open a savings account and a checking account. Having these accounts does not require you to have a good credit score because you are not borrowing money. But having these accounts can help you open your first credit accounts, because lenders will see your good financial practices of saving money.
- 3). Apply for a joint credit card account with someone with established credit, such as a parent. Creditors are more likely to issue you credit if you have someone else cosign for the account because they are also responsible for paying the debt if you fail to repay what you owe.
- 4). Apply for a secured credit card if you cannot find a cosigner. These cards may have an annual fee associated with them, so you should look for a card with a low fee that will report your payments to the credit bureaus and can be changed to an unsecured card within a year or two.
- 5). Pay your bills on time to improve your credit report payment history. If you do not pay on time, your credit score will decrease, making it harder for you to loans or lines of credit in the future.
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