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vokswagon

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with a thin credit file how do I start improving credit. I am totally confused.

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I recommend this:

1) Open a fingerhut account - this is 1 of the easiest accounts to get. Make at least 4 months of payments and see what it does to your score. Note: Last ime i checked Fingerhut only reported to 2 of the 3 credit bureaus - but this is still the easiest credit to get.

2) After 4 to 6 months of fingehut payments, apply for a secured card like openskycc.com or capitalone secured card. Make 4 to 6 months worth of on time payments.

3) Open a secured personal loan with your bank or credit union. This should give your score a big boost as it is a defferent kind of debt than CCs. Make 4 to six payments.

4) If your score is in the high 600s by this time (and it should be), try to open a Discover IT card. This will significanlty help your cc utilization as this card is usually generous with their amounts. 

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