Most people who just join the military are in an enviable position of having very little or no established credit. While this may seem like a bad thing, it actually puts you in a great position to build good credit. It is much easier to build good credit then it is to repair it so now is the time to thoughtfully establish some and maintain it to improve your credit rating. The military offers its service people an advantage. Lenders like the fact that you will have a guaranteed paycheck for four years and are more apt to extend credit for the first time.
The first thing you should do is receive a copy of your credit report. There are three primary credit bureaus, Experian, Trans Union and Equifax that supply credit reports. It is advisable to get a credit report from all three. You will then need to analyze your report to see if it is accurate and what it says. If there are items on there that you are unaware of, now is the time to clear it up. With identity theft so prevalent today, even though you may not have credit, someone else may have gotten something in your name.
Then, you will need to open a bank account. Navy Federal Credit Union...
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