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Establishing Credit While Renting a Jasper Home

Jasper Couple Paying Their Rent Online Establishing credit is an essential aspect of living in today’s economy. A positive credit score (with a history behind it) will help you get credit cards, auto loans, mortgages, and more. A lot of Jasper landlords will supervise your credit before agreeing to rent to you. This means that as a renter, you need to have something to show them. Fortunately, there is a lot you can do to establish and build your credit while renting a home in Jasper. By applying a few simple strategies, you can build a credit history that will help you get the things you want out of life.

Pay Your Rent on Time

In years past, your rental payments wouldn’t be much help in establishing credit. However, thanks to some new programs, you can now make sure that your on-time rental payments reported to the credit bureaus. For instance, Experian will include your rent payments in your standard credit report upon request. By recording a positive rental payment history in this way, you can build a good credit history over time. For renters who need to establish their credit, this could be one of your best ways to go about it. Just make sure you check with your landlord and the credit bureaus to guarantee that your payments are reported each month.

Apply for a Secured Credit Card

If you have no credit history, it won’t be easy to persuade anyone to give you a loan. This includes credit card companies. One way to go around that is to get a secured credit card. A secured credit card is a type of credit card that uses your own money to guarantee your purchases. For the most part, a secured credit card will ask you to make a down payment to the card, which then becomes your credit limit. The required deposit is typically very low, sometimes just a few hundred dollars, but can be higher depending on your conditions. Using the card will permit you to make monthly payments. These on-time payments are then reported to the credit bureaus, helping you establish a credit history.

Apply for Store Credit

Another possible way to establish credit while renting a home is to apply for lines of credit from stores or other retail businesses. These types of cards can be easier to qualify for than regular credit cards and can sometimes even offer a few perks. The best strategy to establish credit using store cards is to make relatively small purchases and then pay them off with on-time monthly payments. Just be careful not to charge more to your card than you can afford to quickly payback. Making sure that you pay the minimum amount due every month can help you create a good credit score. One more excellent idea may be to rent to own appliances if you need a washer and dryer or refrigerator.

As a renter, you need to have a credit history. Building a good credit score is even better. By using the strategies outlined above, you can establish credit while renting a home. In these ways, you can help guarantee that whatever the future may bring, you are ready to meet it. Be sure to contact Real Property Management Results to find your next home to rent. Contact us online or call us at 812-461-1676 today.

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