How to Build a Credit History Fast

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Building credit scores fast is done by being responsible with credit cards, making payments and keeping the balance manageable. Set up multiple credit cards with manageable lines of credit with help from a registered financial consultant in this free video on credit and personal finance.

Part of the Video Series: Credit & Personal Finance
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Video Transcript

This is financial adviser, Patrick Munro talking about how to build credit scores fast. Credit scores are an important component of today's methodology of becoming a successful consumer and citizen. The best way to build credit scores fast is to be responsible with the credit that you do have. You could set up several key credit cards not too many with manageable lines of credit and keep them going simultaneously. This will draw in more activity and of course you can have an auto loan and a mortgage loan at the same time because you need a place to live an an automobile to drive. As long as those are kept in a responsible fashion and your credit cards are kept paid up to date and not over extended you will quickly learn that you can have a high credit score and move forward based on that. What you can do though is fall into a trap thinking that your credit score is so good that you take on even more credit and pretty soon your financial life will slow down and the credit score will go down accordingly. Be always cautious of that and monitor your credit and make sure that you don't lose your identity because that can be a product as well. This is Patrick Munro talking about how to build your credit scores fast.


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