kiplinger<\/em><\/figcaption><\/figure><\/div>\n\n\nThe good news is, even felons or ex-felons can build a good credit score. Here are tips on how you can do it:<\/p>\n\n\n\n
Get a job.<\/b> Of course, your first step is to find a source of income, and that\u2019s by getting a job. Companies run background checks, including credit reports and criminal history. Thankfully, there are prospective employers who will hire you regardless of your records.<\/p>\n\n\n\n
Pay off outstanding obligations. <\/b>If you have any unpaid financial obligations, start paying them off. If you can\u2019t pay them in full, at least pay the minimum amount and get in touch with your creditor to work out an arrangement.<\/p>\n\n\n\n
Get the obligations discharged by filing bankruptcy. <\/b>Filing for bankruptcy is bad for your credit rating, but at least it will stop the bleeding.<\/p>\n\n\n\n
Get in touch with the creditor.<\/b> If you are unable to pay any financial obligation, get in touch with the creditor and try to work out an agreement.<\/p>\n\n\n\n
Get a secured credit card.<\/b> This type of credit card requires you to deposit cash as collateral that will be on hold for a certain period. This type of credit card will help you build good credit if you can\u2019t apply for a traditional credit card.<\/p>\n\n\n\n
Pay present and future financial obligations on time.<\/b> If there are any bills coming your way, pay them off on time. You don\u2019t want to add fuel to the fire, don\u2019t you?<\/p>\n\n\n\n