If you want to learn more about how to establish credit or how to fix bad credit then you will want to read this article.  Getting good new credit is a critical part of any credit restoration process.  We will be discussing three easy ways to get new credit.

Perhaps the easiest type of credit to get when you have a low or no credit score is a secured credit card.  When you apply for a secured credit card, you will be asked to place a deposit with the lender.  You will then be issued a credit line equal to that deposit.  Because the lenders have cash to secure your credit line, there is typically no credit qualifying at all for a secured credit card.

You can also look for department stores and gas companies that offer credit cards. These companies typically have very relaxed underwriting guidelines because they are hoping that having credit will inspire you to spend more money in their stores.  Using a gas card to reestablish your credit can be a good idea since gas is something you are going to spend money on anyway!  Just be careful if you decide to get a department store card.  It isn’t something you should do if you think you will be tempted to over spend.

The next place you should look to establish credit is your bank.  While many people assume that a bank would not be willing to issue them a loan when their credit is bad, this is not always the case.  Most banks are happy to issue you a CD (or certificate of deposit) loan regardless of your credit history.  Like a secured card, you will be required to place a deposit with the bank.  In this case, your deposit will be a CD.  Then, you will take out a loan against this CD.  Yes, you will be paying interest on you own money.  Just remember – your ultimate goal is to reestablish your credit history.