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Instead, choose one that really fits your needs. This is normal for new applicants.ĭon’t apply for a bunch of credit cards all at once because it will lower your credit score. You should know that if you're new to credit, the bureaus may not have information about you. If the issue is legitimate, the bureaus can give you information on repairing your credit. If you see a mistake, you can dispute it with the bureaus to get it removed. Banks look at these reports to make sure you’re someone who pays bills on time, doesn’t miss payments and doesn’t already have too many credit cards for your income. Order a free copy of your credit report from each of the three credit bureaus (Equifax ®, Experian ® and TransUnion ®) at /credit. There are a few steps you need to follow so that everything goes smoothly.įirst, make sure there are no credit issues that could get in your way. Applying for a card is easier than ever, but it’s not quite as effortless as grabbing your phone and tapping a “gimme credit” button. But before you do, make sure you’ve really looked at all your options. If you’ve done your research and found a credit card that’s right for you, the next step is applying. To make all this easier for you, Freedom Rise comes with tools that help you manage your credit-including Chase Credit Journey ®. Also, be careful about canceling credit cards because that could reduce your score. Pay down any credit cards where you owe more than 30% of your limit.

Watch your credit utilization ratio, which is the amount of credit you're using compared to your total credit limit.Your payment history is one of the most important factors in your credit score, so consider setting up automatic payments so you don't forget. There are a lot of ways you can improve your score, but here's where you should start. The lower the interest rate, the lower your monthly payment. When you're ready to make a big purchase, like a car or home, a good credit score means you'll have a better chance of getting a lower interest rate. This makes it easier to get approved for a new credit card like Freedom Rise℠, which has no annual fee and lets you earn cash back. You can keep an eye on it at /credit.Ī higher credit score lets banks know you're financially responsible.

Once you've established credit, make sure that you maintain a good credit score. If you can't get a credit card on your own, you could ask one of your parents to be a cosigner or make you an authorized user on one of their cards. How can you establish credit? One of the best ways is to get a card that's designed for people new to credit, like Freedom Rise℠. Don't worry, this is normal when you're starting out. Or, you might not have any record of credit at all. If you're someone who's never had credit, your credit score is probably pretty low because the credit bureaus don't have any information on you yet.

Who comes up with the credit score number? Most banks look at three credit bureaus: Equifax ®, Experian ® and TransUnion ®. Later on in life, it can get in the way of purchasing a home or making other big investments. You can have trouble getting a credit card, renting an apartment and buying or leasing a car. Without a good credit score, life becomes more complicated. It's calculated based on factors like your payment history, amount of debt and the length of time you've held credit in your name. A credit score is a number from 300 to 850 that tells banks how likely you are to pay your debts on time -the higher the number, the better.

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