I never realized how important credit was until I actually became an adult and wanted to actually start applying for small credit cards and being denied for not having credit. Having credit is so vital and important in life! Just being able to have an even higher credit score can get you bigger things in life like “purchasing your first home “with lower interest rates”, purchasing a vehicle, credit cards, personal loans and etc”. When I first checked my credit score (2015) it wasn’t bad or poor, it was a 630 and some credit card companies or banks wouldn’t even give you a credit card without having atleast a 650 or above to start establishing credit.
I thought not having any credit wasn’t bad credit, but in reality it is! You should atleast have something in your name that’s establishing credit, sometimes even renting and paying a phone bill isn’t establishing credit! Applying for small credit card builders can help your credit, you can go to any bank or credit union and speak to a member service consultant to build your credit.
I personally went through capital one and started off with a $300 credit limit and after only being a customer with them for 6-7 months my credit score went from a 630-705. I even qualified for a credit increase and they gave me a few thousands which was amazing! I didn’t know being consistent with my payments and only using it for emergencies I’d be giving a high credit limit being that they started me off with just $300. But anywho, I really love capital one and felt like that worked for me, but everyone’s different! 😊