To establish good credit there are several things you can do:

• Start a credit history by applying for a gas, department store or major credit card
• Be sure to make credit card payments on time and pay off your debts quickly
• Do not borrow beyond your means—borrow only for items you need and can afford
• Limit your spending on non-essential items to 15-20% of your net income

To maintain a good credit rating, these five ideas will be helpful:

• Don’t borrow money or use credit cards to buy basics of life such as food, utilities, medical bills, unless you are able to pay the bill in full each month
• Don’t depend on credit cards when your employment is unstable or uncertain
• Avoid using credit if you have bad spending habits
• Don’t reach your credit limit, the full amount you are allowed to borrow
• Don’t use credit cards if you have difficulty making payments or if you consistently make late payments

With good credit, you will have a strong financial future. It is important to know that it is never too late to improve your credit history.