If you are young and in college getting credit is fairly easy. There is probably someone on every campus trying to get college kids to sign up.
Credit can range from a credit card like Visa, or MasterCard. Or the various other types of credit... read more
Now if I were a person with no credit at all, where would I begin?? Maybe my goal is to buy a house someday and I know I need credit in order to do so. Here's how to get started:
1) Obtain a secured credit card at your credit union or bank.
2) Use it and pay it off in full early each month.
Rinse and repeat each month for about 6 months. Then obtain an unsecured credit card.
Do the same thing for 6 months.
If you're renting and have proof your rent is on time every month, like with canceled checks and rent receipts, this is credit history you can use.
If you pay auto insurance, cell phone, once again this is credit also.
Just a few pointers, hope this helps.
You don't want credit. It's borrowing money you don't have. Then you pay it back with interest. Sometimes the interest rates are 18 percent or more. There have been changes in credit laws recently that do not favor the lenders. But the lenders, such as banks and private lending institutions, are going to get their profits anyway. Fall behind in credit payments and they will hound you to hell and beyond.
Credit is a form of servitude. It is an obligation that hangs over your head like a black cloud. Credit is okay only if you have a steady stream of income. If that income flow is disrupted, as it always is at some time in your life, you are still obligated to make payments.
So you're asking the wrong question. The question should be: How can I live my life WITHOUT credit? In fact, that is an excellent hub (if it hasn't been done). We are a nation of consumer addicts. We want, we buy, and buy some more even if we don't need it. Living without credit is hard because you do without what other people have. But you have something they don't: No credit obligations.
Other posts here have suggested a secured credit card then "graduating" to an unsecured card. But it's like "sampling" a drug like marijuana. After awhile it's hard drugs. And you're hooked.
Learn to live without credit. It can be done. And more and more people wish they had.
by Dorsi Diaz 6 years ago
I am going to get a secured credit card to help rebuild my credit. Does anyone have any advice on a good one? I see the offers on the Internet but would like to hear advice from someone who has used one and it worked out well. I need to get my credit score up a bit more before I can re-fi at a...
by CWanamaker 5 years ago
What are some tips for improving your credit score when no one will issue you a credit card or loan?
by debandboys 7 years ago
where do i find a loan as im a siingle parent on benefits with poor credit?
by philil 8 years ago
How do you know so much about legally not paying credit cards without going bankrupt. R U an att'y?I fear having a judgment or lien or even a lawsuit against us being instituted. My attorney told me something about not going bankrupt because they cannot do anything about unsecured debt except...
by Stacie L 5 years ago
Up next: Credit card checkout feesBeginning Sunday, merchants will be allowed to charge a fee for accepting MasterCard and Visa. It remains to be seen if they will.By MSN Money partner Last summer, there was an antitrust settlement between merchants and Visa, MasterCard and big banks about credit...
by clonjaz 7 years ago
I would check out your local Credit Union. It would probably be your best bet.
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