whats the best way to build our credit without getting into a lot of debt?

If you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.

If you do not have a well-established good credit history, here's some tips on how to begin building or re-building one.

The trick is to start small: try applying for credit with a local business, such as a department store or a local bank or credit union. These local merchants may have lower credit standards than larger lenders. Before you apply for credit, make sure the credit grantor reports credit history information to one of the major U.S. credit bureaus - this will help build your credit history.

Other options, if you are having difficulty opening a credit account, include asking a friend or family member to co-sign your loan or credit card application or obtaining a secured card, which is guaranteed by a deposit you make with the card issuer.

Actively monitor and manage your credit

While the most obvious thing you can do to build a solid credit history is to pay your bills on time, you can also take steps to protect your credit standing and make sure your credit report is accurate when you apply for credit.

The accessibility of credit reports is made possible by the Fair and Accurate Credit Transactions Act (FACT), a bill which was passed on December 4, 2003 by the US Congress. This act, which is sanctioned by the Federal Trade Commission or FTC, allows every consumer to obtain a free credit report once in a period of twelve months. Similarly, the FACT also ensures the privacy and accuracy of the information that the various credit reporting companies hold. Under this act, the FTC, together with the three credit reporting companies namely Experian, TransUnion, and Equifax, have set up a website where people can log on to check out their annual credit scores. According to the FTC, there are three ways a consumer can obtain his credit report. The first one is by visiting the FTC's authorized website, AnnualCreditReport.com, and providing all the information needed to access the credit report. This is generally the fastest way to obtain one's credit report. Consumers have to be cautious, however, of the supposedly free credit reports they see offered on unauthorized websites. More often than not, the services offered on these sites are not entirely for free. Those who want to get credit reports should keep in mind that they can only get them for free from the website FTC provided.

take one thousand dollars

pick 10 banks (make sure all banks you choose report to the 3 major credit bureaus)

take the thousand dollars to the 1st bank & tell them you want to put it in an interest bearing CD & get a 12 month loan against it (secured)

after getting your thousand dollar loan, take it to the 2nd bank & do the same. then to the 3rd, 4th, etc etc etc

pay you loan payments every month.

within 6 months, the banks will surely start reporting your payments & intentions, and your fico score will SKYROCKET.

your only "out of pocket" investment is one thousand dollars... and you get it back after you leave each bank... even the last one.. which means you STILL have the thousand dolalrs that you started with, but are building your fico score.

After the 12 month loans have matured... your fico score is through the ROOF... and you get the thousand dollars back from each banks CD that you have been paying on. You can then take that $10,000 and use it for a down pmt on a house or something.

Pretty awesome, aint it?

it works. I guarantee it!

Enjoy your day!

Short term signature loans do wonders if you repay them on time. Do not do the quick cash type or Payday loans. Find a bank and take out a loan for a couple thousand and pay it back on time. Don't pay it too quickly, creditors do not like that kind of history because it means they won't make much money off interest from you. If you need one, buy a car and make sure you finance it through a major lender. Pay it back on their terms as I said before. Paying it back too quickly is a big no-no to creditors.

Good Luck

Apply for a credit card but keep the maximum to no more than $500.00. When you get it use it for small purchases and pay it off monthly. Another good way, if you have a good relationship with your bank, is to take out a small loan for lets say $1000.00 and don't use it! Just put it in your account and forget about it! Keep this for a minimum of six months and pay more than the minimum each month. When the six months is up pay it off. I guess the key is to establish something on your credit, keep it low and pay it off in full.

My suggestion would be a gas card or an automotive shop card like Goodyear or Firestone. With that being said, I would like you to take a long term approach to your credit rating. Build your good name/credit history slowly and your rating will follow. Also, if you'll visit my Yahoo answers profile you'll find my credit repair website link. I know that you do not need to repair your credit, however it is a good resource to learn about the credit industry.

there are Credit cards that you can put money into $150 up to $1000, Capitol One is one, and just keep your payments up. This way you are in control of the Credit cards and not someone else.

get a credit card and pay for things like gas, grocerys and other expenses you will spend throughout the month set that money that you would spend aside and just pay the credit card amount off fully each month

Get a debit card through your bank. You can also get a super low limit credit card (like a $1000 limit) to start helping your. Just don't use the credit card, and if you do, pay it off immediately. You are smart for not wanting to get into debt.

get a credit card that's have a low balances on it and pay if off each month and use has needed..