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    Edmundo Daco Jr.

    You can start building a good credit score by doing the following:

    1. There are three credit bureaus in the U.S., Experian, TransUnion, and Equifax. The first thing that you should do is let them know of your existence right after getting an SSN and your driver’s license. It is good to have records with the credit agencies as early as possible so you can start building credit right away. Check their websites to get an update.
    2. To build credit, you must have at least one credit card. Applying for the first time for a credit card in the US is a bit tricky since you don’t have a credit history yet. What you can do is try to apply for a secured credit card with the bank where you have your payroll account. Also, you might get a US Amex card easily if you already have an Amex credit card from your home country. After getting a credit card, use it monthly but make sure to keep the utilization under 20%.
    3. Next is to get a car loan. If you have a good salary you will be able to get a car loan easily. There are lenders who give secured car loans even to people with little credit history. However, you will be surely given a high-interest rate.
    4. To add variety to your credit line and help you build good credit, try to get a small and short-term personal loan. Most personal loans are unsecured which means you will not have any trouble getting one even if you don’t have a long credit history, co-signer or collateral.
    5. There are free credit monitoring sites like CreditKarma, CreditSesame, and Quizzle. You can read tips on increasing your credit score on these websites.
    6. Always pay your credit card bills and monthly loan repayments on time. You can use your bank account to autopay your credit line to avoid late payments. Remember that just one late payment can reduce your credit score by 20-30 points.
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