 TITLE: How to Get Credit for the First Time CONTENT: Open a Secured Card\n-------------------\nOpening a secured credit card is a good way for first-timers to build credit. As the name implies, this type of card is \"secured\" by a refundable security deposit. If you don't pay your bill, the card issuer can use your security deposit to cover it. The amount of your security deposit typically determines your credit limit. You may be able to get a secured credit card with a deposit as low as $200; some cards let you deposit more money if you want a higher credit limit.\nBefore applying for a secured credit card, make sure that the card issuer reports your payment history to the three major credit reporting agencies. Otherwise, using that card won't help you build a credit history. Also, clarify any additional fees the card charges as these extra fees can reduce your credit limit. Finally, be sure you know exactly what your credit limit will be so you don't accidentally go over it.\nOnce you receive your secured credit card, use it to make small purchases every month and be sure to pay the bill on time. This helps establish that you can handle credit wisely. Remember that even one late payment can hurt the credit score that you're trying so hard to establish. To ensure you never miss a payment date, it's a good idea to set up automatic payments for at least the minimum amount due each month. END