How to Obtain Credit!

If you have trouble getting a credit account with a major provider such as Visa, MasterCard or Discover, apply for a department store card from places like Target or Wal-Mart or a card from Exxon Mobil or another oil/gas company that you can use to purchase gasoline. Once your credit foundation is set up, you can apply for more credit cards to help improve your score. Once a consumer's credit report shows enough significant trade lines and payment history it will be easier to get into a rental property, be approved for insurance or be approved for a loan.

A secured credit card operates differently and is a good choice to use in starting a credit history if one cannot obtain an unsecured card. Secured cards are backed by collateral as security against nonpayment. These cards are usually opened through a bank where an individual deposits a sum of money (the collateral), which backs the card in case of non-payment. The card is then used as any normal credit card. If the individual proves to be responsible with the use of the card and the timeliness in repayment of debts, obtaining a future unsecured card will prove to be much easier.