Friday, November 19, 2010

How do I get credit with no credit?

I make $60000 a year. I have no credit (not bad credit), but I pay my bills on time. I want to buy a house in a couple years and people charge me deposits for crap cause I have no credit so I need to get some. So I applied for some credit cards but have been rejected by all of them. What do I do?How do I get credit with no credit?
Building credit is getting tougher each day, there are a couple of ways you could build credit, one is getting a small personal loan and pay it off in a few months. Two is getting a credit card an using it for everyday purchases but paying it off at the end of the month that way you do not pay interest and credit card companies will increase your credit which looks good when building credit, applying for a card that will get you approved, when building credit most major credit cards will not give you the first change to start your credit, so apply for a first premier bank card it has a fee to get you approved but here is the thing use it for at least 6 months just to build enough credit to apply for a better card such as a citbank or discover , once approved for a better card you could drop the first card. If you are a student, apply for a student credit card, check out under poor or no credit section. Good luck How do I get credit with no credit?
You can have someone ( that has credit) cosign on something like a loan or maybe a cell phone plain
I've been contemplating this myself. I checked on the Capital One website, they have credit cards for those with limited credit history.

Go to the link below and Check the Limited History tab, it will sort to show you cards that are ment for those with little or none credit history.
1. Do not apply for ';some'; cards. Apply for only one card per year. An application is most likely to be approved if it is your first application in over a year. It is most likely to be rejected if you have applied several times in the previous few months.

2. Even with no credit, you can obtain a secured credit card by depositing money at a bank that offers secured credit cards. Go to a bank that offers secured credit cards and offer to deposit money there if they will give you a secured credit card. Making all required payments on the secured credit card (or simply having it, and not using it, so that no payments are required, if it does not have a fee) will give you some credit. After you have some credit from doing this, you can try to obtain a regular (unsecured) credit card.
its simple..start out w/a gas card that will help build u credit. charge it and pay it out. charge it again and pay it off again

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