Whether it's for a car, a house, education or a business, the vast majority of people in this world will need credit sooner or later. So, how do you build your credit? Getting a credit card is the best place to start.

• Secured cards have guaranteed approval
• Ask about what kind of buyer protection comes with a card before you apply
• If you think you'll ever carry a balance, consider applying for a low interest rate card

Companies like Capital One have secured credit cards that require you to load money onto the card up front, but then operate from there exactly like any other card. They build your credit just like any other card and they'll usually approve you regardless of your financial situation. However, since it's unlikely that a secured card will carry a balance, card issuers will rely on monthly or annual fees for revenue.

Unsecured credit cards are by far the most common. American Express, Visa and MasterCard all offer them. However, to qualify, you have to have a good credit history as well as a good score. The company issuing the card needs to see that you have a history of taking on loans or other credit and repaying them. Starting with a secured credit card is the best way to build up the credit history and score required to get an unsecured credit card.