Credit Management

This credit tutorial caters to 2 kinds of people:

1) Individuals ready to start credit – scroll below to start.

2) Individuals already using credit – Click here

No matter which category you fall in you will need to know how to keep more of your money while using credit. That’s what this credit tutorial will teach you. ​ ​ ​

Individuals Starting Credit

​Are you ready to start using credit? Great!

​Step One: Don’t Start Using Credit Unless You Are Ready To Be Responsible!

Using Credit is a very a serious thing. If you aren’t ready financially to take on the monthly debt, then you should wait until you get your finances together. If you don’t pay at least the minimum monthly balance, you risk getting a bad credit history. Once it’s bad, it gets very difficult to obtain credit.

Step Two: Learn Credit Issues

There are a lot of misinformation floating around the web nowadays about credit. So I put together a few basic tutorials to help you with these issues. I suggest that you read each of them before going to the second step.

Credit Bureaus

Learn who they are, what they ‘re not, what they do, how they operate, how they get your credit information and how to contact them. The above link will give you loads of information about credit bureaus and how they affect you.

Credit reports


Understand what a credit report is, what information is on them, how to get a copy, how to read and analyze your reports. Plus learn how to correct errors found on them. Click on the above credit report link to learn all about credit reports.

Different Kinds of Credit


There are so many kinds of credit available today. Understanding them and how each work is very important if you are to manage your credit.

  • Mortgage
  • Finance Loans
  • Credit Cards
  • Lines of Credit
  • Student Loans

Using Credit


If you are going to use credit, then you need to understand how to use it. This information on this page will make you aware of many problems you can encounter when you have credit.

Getting Credit Help


Sometimes when you are in debt you need some outside help with getting your credit in order. Grasp what credit help is available, how to contact them and whether you want to use them or not.

Read Credit Help Companies to learn more about it.

How To Deal With Creditors


You might know how to apply for credit, get approved, and use credit, but who wants to deal creditors. Using credit creates a relationship between you and your creditor. So from the beginning be determined to handle your own debt. Read this article ” Deal With Creditors” to learn more.

Step Three: Get a Prepaid Credit Card


You will need some where to keep your money. I would suggest opening a bank account but banks can charge so many fees it can hurt you financially. So instead use a prepaid card.

My husband and I use the Walmart MoneyCard. You can apply online or at one of the Walmart locations. Then you make a deposit, activate your card and start using your credit. We use it to pay some bills.

If you work you can have your payroll check deposited into your pre-paid credit card.​

Step Four: Build a Credit History Gradually


Building a good credit history can give you a good credit score. Having a good credit score can help you keep more money when you rent an apartment, obtain a mortgage, get utilities, apply for auto financing and purchase auto insurance.

How To Build Your Credit Without Credit

  1. Apply For Instant Credit

I started building my credit history by going to a mall and applying for credit from a jeweler store. I started with Kay Jeweler. It is an instant credit approval process. ​If you get approved don’t use more than 25% of your credit limit.

For example, you get approved for $1000.00. Only purchase items that will keep your balance at or below $250.00. $250.00 is 25% of $1000.00. Keep that balance like that each month. If possible pay the balance in full each month.

2. Apply For a Secured Credit Card
Start saving money and deposit it on your money card. Then use the money to get a secured credit card. Visit several banks. Let them know what you are trying to do.

Ask if they offer secured credit card. Find out as much as you possibly can about the deposits, interest rate and fees associated with the card. After you’ve visited the banks compare the rates. Then decide which one you will apply for.

Use Credit Cards Wisely​

  • Keep your balance below 25% if its a retail credit card. Retail credit cards are cards that is issued by a retailer and not a bank.
  • Pay your secured credit card ​balance in full each month.
  • Pay your credit card bills before time