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Establish Credit


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If I were you I would have her:

1. Join a credit union located in her community and open a card there.

2. Open a credit card account at her primary bank to strengthen the banking relationship

3. Pick one from a list of:




-Wells Fargo

(Make sure to apply for beginner cards here, or the app will be declined)

3 cards is more than enough. Use them regularly and PIF. Let them age. By the time she is 24, she will have scores in the upper 700's, and will not appear overextended.

As her credit moves into the "Excellent" category, it will become important that she resist applying for new credit. She must also learn to say "No!" to pre-approval offers no matter how enticing the terms.

I think most people don't have a real plan as to what type of account they want and that's when one winds up with 11 different revolving accounts on the CR for the next 10+ years from the likes of Merrick Bank, GEMB, WFNNB... or even worse!

Have a plan!


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