How to get a good credit score from scratch

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Capital
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The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
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How to get a good credit score from scratch

Building credit can feel like a catch-22. You need a good credit score to qualify for loans and credit cards – yet you need a loan or credit card to build the score itself. To help you qualify for the loans and credit cards you need, Kasheesh put together five beginner-friendly ways to start building your credit score today. 

5 beginner-friendly ways to get a credit score

  1. Get a secured or a store credit card – Whether you have a store card (like a Walmart Rewards card) or a secured card (which requires a cash deposit upfront), simply paying the bill for it on time adds to your repayment history — and your credit score.

  2. Become an authorized user – Consider asking a trusted friend or relative with a solid payment history to add you as a user on one of their accounts. Most credit card companies report activity from authorized users, which contributes to your credit score.

  3. Apply for a loan – Paying off a loan on time is another reliable way to build credit. There are three loan types which are often used for this purpose – auto loans (used to get a new ride), personal loans, and secured loans (similar to a secured credit card).

  4. Pay your rent on time – If you rent an apartment, your landlord likely reports your positive payment history to a major credit reporting agency. Alternatively, specific services like RentTrack report your on-time rent payments for a small fee.

  5. Ask for your bills to be reported – Do you consistently pay for a cell phone, utilities, or a cable TV subscription? Ask these providers to report your payment history to the major credit bureaus to show you can be a reliable credit card holder.

While getting a good credit score takes time and patience, any history of reliable payment is valuable for building credit from scratch. The most important thing is to create a habit of paying every bill on time. 

If you’re struggling to get started or need more support, don’t be afraid to reach out to a trusted friend, family member, or financial advisor. If you want free expert advice on starting from scratch, check out Kasheesh’s Finance Academy

Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
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