Are you man who has not established credit yet? Are you being denied the same entrance to credit cards, loans and other credit ways simply because your credit score is too low from not having sufficient credit or no credit at all. Don't fret, because help is on the way!
If you are planning on getting a personal loan, owning a car, having a home of your own, working in a bank or ultimately acquiring the furniture you've been longing for a long time then establishing a credit is the answer.
Credit Cards For People With No Credit
Here are a few ways you can start building up your credit report and get on the road to good credit!
- Start to apply for a guaranteed approval credit card that reports to the credit bureaus. Take your time and always read the fine print in order for you to find the best deal for yourself. These cards are similar to debit cards but they have the Visa or Mastercard logo on them and they report to the credit bureaus.
- other option might be to check if the lending institution of your option has a secured credit card being offered. The interest may be higher but you may be able to upgrade to an unsecured card within 12 months if you sound your payments on time.
- other type of credit card with easy approval requirements is the merchandise credit cards and division store credit cards. These are an perfect source to start to originate a line of credit. Make sure it's a store where you can buy a lot of your shopping needs. This way, you don't need to apply for a many cards at once which can be seen as a negative on your credit report. One word of caution. division store credit cards tend to have high interest rates, many of their interest rates start at 15%. So keep an eye on your balance and try to pay as much as you can each month. Never make just the minimum payment, especially on a division store credit card.
- Don't forget to fill up any application for a loan or credit card completely. If something doesn't apply put N/A on that line. contain your checking and savings accounts and any accounts you pay for on a monthly basis even if they do not appear on your credit report. If they do not appear on your credit report, please make sure you contain a way for your prospective lender to contact them for a trade reference.
If you are reasoning about applying for a car loan, it's good to do study on the dealership or car lot where you want to make the purchase. Most dealers will provide a source of financing. Some may carry their own loan and cost plans. Be on the surveillance though and read contract considered if you don't want to get stuck with an interest rate that is through the roof. This venture is where a good cosigner may come into play.
Use these tips to help jumpstart your credit history and get stylish for the credit that you deserve!
Copyright (c) 2006 Liz Roberts
No Credit? Here Are Easy Ways You Can Build credit Credit Cards For People With No Credit
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