How to build credit fast as a single mom

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Being a single mom can be tough. Knowing how to build credit fast can help you come out of a tight spot in life.

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1. Keep an eye on your credit score and report. Check and report any suspicious activity that may be hurting you.

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2. If you don't qualify, get a parent, partner or friend to co-sign or authorize you as a user on their credit card.

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3. Work on building credit by boosting your score. Maintain the total borrowed amount at 30% or less of the limit.

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4. Ensure you make all your monthly payments on time. All of them. Your payment history is crucial for good credit.

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5. Pay down any high-interest debt as a priority. This will show lenders that you are responsible with your money.

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6. Don't open too many accounts. These will trigger hard inquiries on your report and drop your credit score.

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7. As single moms, you may want to pay off old credit cards as a saving move. Keep them open for your credit history.

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With these steps, single moms can buy a car or home, rent an apartment, and qualify for a loan for school.

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