The first step in establishing a credit history is to ____________.
A)get a credit card
B)open checking and savings accounts
C)borrow from neighbors
D)pay cash for all purchases

Question

The first step in establishing a credit history is to ____________. ​
A)get a credit card
B)open checking and savings accounts
C)borrow from neighbors
D)pay cash for all purchases

Quizplus · Accepted Answer

Opening checking and savings accounts is the first step in establishing a credit history. This shows banks and lenders that you have a stable financial base and can manage money responsibly. Getting a credit card or borrowing from neighbors may come later once a credit history has been established. Paying cash for all purchases does not contribute to building credit history.

The First Step in Establishing a Credit History Is to ____________