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How can you get credit when you have no credit history?

In: Auto Loans and Financing, Personal Finance, Credit and Debit Cards, Student Loans and Financial Aid, Money Management, Credit [Edit categories]

Answer:

Just a like running, you have to start with the first step:
1. Go to your bank and apply for a visa/mastercard with a small limit, say $300
2. Buy small items and pay them ON Time for a few months until verything is paid off
3. Your bank/credit union will report your history of payments to the credit bureaus
4. The credit bureaus create a profile on you showing your FICO score and credit history.
5. Your bank will have minimum requirements such as age, ability to pay(job) and
for small amounts, it may not require collateral.
6. Start small and stay small in your credit limits and you should have great credit.

First answer by TweetMe. Last edit by TweetMe. Contributor trust: 0 [recommend contributor ]. Question popularity: 2 [recommend question].

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