sonia: I have “no credit history” & Im trying to get credit but nobody will approve me. Who will give me credit?
Answers and Views:
Answer by Sir BloodletterThere are a couple of routes to take.
1. Buy a car. People selling cars have ways of getting credit to just about anyone. But it will be expensive.
2. Get a secured credit card. Just about all banks have them in one form or another. You put down a deposit of some or all of the credit line and you receive a credit card. It looks like a normal credit card to the outside world and if you pay it on time, prefferably in full every month, you will have tons of offers in the mail in no time.
3. Get a store card (ie a sears card). This used to be the easiest way to get credit, but now most store cards are run by big banks like B of A or HSBC, and they have stricter credit cuts than stores used to have.
4. Get a small loan from your actual bank. Just walk in to the bank where you have your checking account and talk to a loan officer. They see this all the time and most of the time they can put you into a small loan to get your credit rolling.
5. Become a student. Student loans are very easy to get if you are actually a student.
Just remember — when you do get credit, pay the bills on time every month. If you are late often, if you don’t pay someone back, or if you keep balances high relative to your credit lines, you will wind up with bad credit which will be worse than no credit at all. You’ll still get lots of offers in the mail, but they’ll be lousy credit terms or outright scams.
Answer by His MajestyTry getting a secured credit card . You will have to put a deposit down for any where to $ 250 to $ 1000 down . That way you can build up credit . After you made a timely payments you might get your deposit back after 2-3 years . The amount you deposit is your line of credit or 1.5 x your deposit . all depends who you do business with But be careful you will have banks and financial companies will charge you high fee’s and rates . Go to bankrate.com for secured credit card info . During this credit crisis it’s impossible to get credit now . Try 2-3 banks before you make your decision research the bank or financial institutionAnswer by murray
The simplest way is to get a secured credit card. This is a credit card were you send them $ 250-$ 500 and they send you a credit card with that amount as a limit. When you get your bill you just pay like normal and that builds a history. Eventually you will have enough history (or credit, same thing) to get an unsecured card, then you get your money back or just apply it to the bill.
The important thing is to realize that credit is a very powerful tool. It needs to be treated with respect. I would compare it to a firearm. As much power as it has to help you it has equal power to harm you. If you do not use it properly, do not handle it well, and do not treat it with respect, you are going to get hurt, badly
You should only use a credit card for transactions that are difficult to do without it e.g. airline tickets, or extreme emergency.
Remember that it is a proven fact that people who use their credit cards for everyday items end up spending 17 percent more on average.
Do not buy anything that you do not have the money to pay for already.
pay your bill IN FULL EVERY MONTH!
If you use it as a source of extra or early income it will bite you in the @ss very quickly and damage your credit worthiness. You will then have trouble buying a car, house and you will pay through the nose for interest for many years. You will have trouble getting a cell phone or renting a house or getting a job. DON’T BE THAT IDIOT!
Because you do not have much credit experience, you will probably have to get a secured card.
They require a down payment of like $ 300.00 or more, and that is your credit limit. If you don’t pay they take the money you put down. Pay on time for a year or so and more than the minimum payment, and they raise your credit limt, with no additional fees to you.
I suggest these cards:
-FIRST PREMIER BANK CARD
-PUBLIC SAVING BANK CARD
Take the first step to that 850 score by getting a secured card and paying it off on time. That will build your credit. Try and accuire (different type of) credit Once every 9-12 months to maximize your credit file in good standing.
Good Luck!
Hope this could be of great service!
Answer by Ur Creditsounds like you are applying for the wrong card, you might have to start off with a lower end card to stablish some credit then after 6 months apply for a better one with lower rates, check out www.fastcreditcartdapprovals.com under no credit section here you will find a few cards that will get you approved.
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