The importance of maintaining a good credit history requires great responsibility and dedication.  Building your credit history is the key step in compiling a solid credit score.  Vivix Credit Solution offers experienced credit counselors who will guide you through the process and offer valuable advice about your credit history.  The guidance given to you will assist you in sustaining a solid credit history.  Payment history and length of time you have had credit are some factors that determine your credit score.  Establishing credit takes time, effort and dedication.

Initially, applying for a major credit card like a Visa or MasterCard are beneficial in starting your credit score.  Many people who do not already have a credit score will find it difficult to be given a major credit card.   In these cases you should apply for a department store credit card.  Make sure they report to the credit bureaus and be aware of the interest rates.  Some department store cards have a steep interest rate.  They offer special deals with the purpose of convincing the customer to apply and once that offer elapses, then the high interest rates go into effect.  Once you receive this card, treat it as a means to establish good credit only.  Do not treat it like free money and max out the credit limit.  Make an initial purchase and pay the full amount when due.  This will start you on the process of establishing your credit.

Visa and MasterCard credit cards are offered to people with a good credit standing.  They are both considered global leaders in the credit card industry.  Both cards work in the same manner and are no different from each other except the interest’s rates offered by the bank issuer, and possibly some terms of the credit agreement.  Once a major credit card is issued, it is imperative to pay the monthly balance in full if possible and not charge more than your credit limit.  Another way to attain a major credit card is through a cosigner.  A cosigner agrees to make payments if the primary account holder does not.  Once the credit has been established, the cosigner can be removed or the primary account holder can apply for another card on his or her own.

Secured credit cards offer a person with no credit history or bad credit the opportunity to build or repair their credit score.  The banks that issue these cards report to the three major credit bureaus, Equifax, Experian and Trans Union.  Secured cards require an annual fee and minimum cash deposit in a savings account.  The credit limit is the amount of money in the account.  The money in the account serves as collateral for the banks as a guarantee of payment.  It is important to make timely payments for this card because this is the new beginning to your life of good credit.

Whichever form of credit card is preferred, it is always important to make payments on time.  Building good credit requires you to prove responsibility.  Once established, there are many benefits to enjoy such as easy credit approval for loans and other credit cards, as well as lower interest rates.  Building and maintaining a good credit history is your obligation and responsibility.