by: Vanessa Portillo

The Basics

In order for you to get a credit card or apply for a personal loan you have to be at least eighteen. You need to have a job for a while and a bank account for at least a year. Preferable one that you handle well and not bounce checks. You could also have a savings account with a decent amount of money in it.

Three Key Factors For Creditworthiness

Once you have a Credit Card

As soon as you get your first credit card you should set a spending limit. something you can ay in full by the end of the month so you can avoid interest fees. as soon as you get your first card a lot of other card companies will try and make you sign up for them.

Dont Be Fooled

follow a spending limit so you can keep up with your bills because if you fail to pay them the credit card companies or banks may lower your payments but hike up your interest rate and force you to pay. and then once you cant keep up any more they will make you file bankruptcy.