i want to start building my credit?
by Author on Wednesday, July 28th, 2010 | 3 Comments
i want to start building my credit because i dont have credit history.who know where i ve to go and apply for a credit card either instore card or not so that i will get instant approval.and start building my credit
Related Credit Card Sites
- Your Personal Credit and Your Business Credit History » FICO, Your, Although, BusinessRemember, Pamela, Williams » YEE Show
- Read All About It » Blog Archive » Instant Approval Student Credit Cards
- Getting Credit Without A Credit History
If you enjoyed this post, make sure you subscribe to my RSS feed!
You will have to start building your credit rating with secured credit. Make sure the banks report to the credit bureaus, otherwise it does no good.
Go to the bank you do business with, ask them if they have a secured credit card, if they do open a new account with $300 – $500 tell them you want a secured credit card against that account. Use the card for small purchases like gas or food and pay the card off entirely each month on time.
Also you can take your savings account and save until you have $1,000. Tell your banker you want to take a installment loan out against the savings account. Take the money you receive and put it in your checking account to repay the loan. Pay it off in 12 months. Lenders like to see a mixture of credit, revolving, installments, personal loans.
After a few months you can try for an unsecured card. Retail store cards and gas cards are normally easier to get.
It takes 24 months of consistent on time payments to establish a good credit rating.
If you do not already have a credit history, then you are not likely to obtain instant approval anywhere.
You should deposit money at a bank that offers secured credit cards to depositors with no credit history, obtain a secured credit card from that bank, and make the payments on that card. Only after you have built your credit history using that card, then you should apply for an in-store card or a regular credit card, not before.
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – credit-report-score.10001mb.com