Making a credit history requires time and consistency. The are various options, which include co-signing loans, soliciting low-risk loans or beginning with Secured Credit Cards. Regardless of the methods you choose, you will need to have an established savings or checking account with funds and a consistent source of income to make your payments.

Create a Budget

Create a budget and determine the amount of money you make and spend each month. This will let you see a more organized flow of your spending tendencies. Determine the amount of money you can designate for making credit card payments.

Establish a Bank Account

Go to your local bank and create a Savings or Checking account. Deposit a determined amount of money that will allow you to make future small purchases for your credit history.

Build Credit Using a Secured Credit Card

Apply for a Secured Credit Card. Look for the options that don't charge for application or annual fees. Stay away from the ones that charge a high APR percentage. Read the fine print. Using a Secured Credit Card will allow you to use your own money as collateral. The amount of money you deposit determines the limit of your credit line. Once you have deposited an amount of money into your Secured Credit Card, start using it for small monthly purchases. It is recommended that you spend only as much as you will be able to pay at the end of the month. Make a habit of paying your credit card bill before the due date, if you want to build a good credit history.

Build Credit With a Co-signed Loan

Solicit a small loan with the help of a co-signer. The co-signer could be a family member or friend who will promises the lending company to keep the loan in good standing if you default on your payments. Purchase an appliance, furniture or electronic device at a price you will be able to pay back easily. This could be at any department store that offers monthly payment options. Pay more than the minimum monthly payment if possible and always before the due date.

Source:

Bankrate.com: 10 questions before getting secured credit cards

USBank.com: Building your credit history

More Information:

Bankrate.com: Secured Cards

Credit.com: Secured Credit Cards