Excellent credit isn’t as exclusive a club as you might think, as about half of all consumers have it. There aren’t any capacity limits either, so there’s no reason why you can’t solidify your membership in 2013. A higher credit score can mean lower rates on everything from car loans and mortgages to insurance.
Credit cards are the most efficient credit-building tools since they relay information to your credit reports on a monthly basis, and you can ensure the information is positive by making payments on time and maximizing your available credit.
Secured credit cards are a great option for people who are either just starting out or who have had difficulties in the past because they require a refundable security deposit. That deposit acts as your spending limit, precluding the need for issuers to charge high fees to offset risk.
