Using credit cards is the easiest way to build your credit history.

If you don’t have a credit card then you will have to go to a big name bank and start with a pre-paid credit card. General purpose, reloadable prepaid cards as they’re known in the banking industry, are not actually credit cards, nor are they debit cards. No one lends you money: You deposit money to the card and then use it as you see fit. Prepaid cards are not linked to a bank account either. It’s essentially cash in plastic form.

You can find a free pre-paid card without an annual or monthly fee. But I would recommend using a big name bank and paying an annual fee of no more than $40.00 per year. This allows for the big name banks to come knocking at your

mail box once you have used this prepaid card monthly, for one year.

Using a prepaid card or a credit card is the important part, monthly. Once the banks see that you can use a prepaid card for one year, then the letters will arrive in the mail for offers to use a real credit card from major banking corporations. Be selective and choose a credit card company that offers no annual fees. The offers will start with a low line of credit such as $300.00 per month. Use this $300 credit card for one year and then get your letters in the mailbox for offers to use a credit card with a credit line of $500.00. The following year the offers could be $1,000 to $1,500 credit line. It can take you as long as 7 years to reach a $3,000 to $10,000 line of credit on one credit card.

But wait, you should not limit yourself to one or two credit cards. Get as many free credit cards as possible and use them all on a monthly basis. This will be some work but the ultimate goal is to build as much credit as humanly possible with your social security number. Do not put your girlfriend or wife on your credit card accounts. And girls, do the same, keep your boyfriend or husband’s name off your credit card accounts. This is a personal goal.

Why would an individual build as much credit card credit as possible?

In order to have a great credit report that allows an individual to borrow money from a bank in the form of a mortgage loan. Keep in mind that a credit report will have more information than just your credit card history. But an exceptional credit card history could make-up for some negatives on your credit score. Negatives may need to be corrected but credit cards and great credit card history is what will make the back bone of your credit score.

BTW, why would someone want to take out a mortgage loan? So you can start investing in real estate. You can’t plan your retirement until you start with your real estate investments , first. This may seem like a lot of work but you need to dream first and then know the quickest path to retirement.

I have been a resident of Colorado for 36 years. I’m a former owner of a Denver dispensary. The dispensary sold for my retirement.

My book, titled “Colorado Marijuana Real Estate” is a how-to-guide for the entrepreneur and the blue- collar guy. This book provides a blueprint for starting a medical marijuana business plan.

Download the eBook for FREE: www.coloradomjrealestate.com