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Old 01-21-2008, 11:11 PM
cbass1017 cbass1017 is offline
Junior Member
 
Join Date: Jan 2008
Location: PA/Mercer U.S.
Posts: 23
Default Re: when you have no credit history

I know it sucks but the best way I found to establish credit is by getting yourself a secured credit card. Most people hate them because its kind of like paying money just to spend your money. There are a few companies out there that do not charge a monthly or annual fee for a secured credit card. Also you have to make sure that whoever you do decide to go with actually reports to all three of the major credit bureaus. Most credit unions and smaller banks on report to one. Another really good way to build credit is to see if someone you know will co-sign on a small car loan for you. Most banks will approve a car loan application regardless of your credit history if you can find a qualified co-signer.

Another thing to beware of is that even if you've never had a loan or a credit card you may have some negative remarks on your credit from your cell phone or tv provider. Most of these do not report to the credit bureaus unless it goes into collections but some do.

Hope that info helps!
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