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Página principalThere are a lot of benefits to having good credit. Lenders aren’t the only ones who look at your credit history — employers, insurance companies, landlords, cell phone providers, and others may check your credit history before they make decisions about you.
Before applying for your first credit account, you will want to be confident that you will be able to afford any charges you make and handle your credit responsibly. This means that you shouldn’t charge more than you can afford to pay and will remember to pay your bill on time each and every month.
Credit providers must follow specific Federal laws when granting credit. This means if you do not have a credit history or steady, verifiable income, you may want to work with your bank to determine the best way to work towards obtaining your first credit account.
To build a credit history, you first must know which activities impact your credit score and report. A credit report is a record of your credit activity and how responsibly you’ve paid your credit accounts over time. The following are potential ways to start building your credit, but are not always available with all credit providers.
Becoming an authorized user on a trusted person’s credit card may help you build your credit history if you are at least 18 years old. However, this also means that account's credit history might be reflected on your credit report as well.
Applying for a loan with a cosigner or co-applicant may help you qualify or acquire better credit terms, but remember that your cosigner or co-applicant also takes responsibility for payment. That means the credit history will be reflected on both of your credit reports.
Consider a secured credit card or loan as you work to build your credit history. While Wells Fargo does not offer these products, some financial institutions may offer secured credit card or secured loan options, which may be an alternative to help build your credit history when used responsibly. These work like any other loan or credit card but require some form of collateral. Keep in mind, with a secured credit account if you don’t pay the terms as agreed, you may be at risk of losing your collateral.
Gas and retailer credit cards may also help establish credit, and they might be easier to acquire than other traditional credit cards. Be aware that they may have different terms than other cards, so make sure to review them carefully and make your payments on time.
Explore more resources about building a solid credit history.
You must be a Wells Fargo account holder of an eligible Wells Fargo consumer account with a FICO® Score available, and enrolled in Wells Fargo Online®. Eligible Wells Fargo consumer accounts include deposit, loan, and credit accounts, but other consumer accounts may also be eligible. Contact Wells Fargo for details. Contact Wells Fargo for details. Your mobile carrier’s message and data rates may apply.
Please note that the score provided under this service is for educational purposes and may not be the score used by Wells Fargo to make credit decisions. Wells Fargo looks at many factors to determine your credit options; therefore, a specific FICO® Score or Wells Fargo credit rating does not guarantee a specific loan rate, approval of a loan, or an upgrade on a credit card.
FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.
Wells Fargo Bank, N.A. Member FDIC.
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Cosigner or co-applicant
A cosigner is someone who lends their credit to help the primary borrower qualify for a loan and is responsible for repayment if the primary borrower fails to make payments. A co-applicant applies jointly with the primary borrower and shares responsibility for the repayment of the loan.
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