Credit History?

Question

How do I start building my credit history? I am turned away from credit card companies because I don't have a credit history. How can this be?

Answer 1

you have to develop credit in order to have a credit history, until you have one, you will continue to be denied for credit as you are a credit rick to companies. Start by getting a secured credit card, this means a credit card where you pay about $200.00 to get a credit card for $400.oo... charge a few things and pay them on time, do this for a few months and then after about 6 months of perfect payment and absolutely no late payments, apply for an unsecured credit increase.. This does not mean you should use the money. Then after about 1 year apply for a regular unsecured credit card. you will have established a pattern on your credit for companies to look at.. Keep in mind, you need years of perfect credit in order to be considered a low risk to lenders.. Never take your credit for granted as it takes years to recover from one stupid mistake.. Hope this helps.. You should check out credit info and track your credit ratings on myfico.com.

Answer 2

See about getting a secured card, or a low limit card from someone like Capital One.

Use the card sparingly. Go to dinner once a month or something and put it on the card. Pay the balance at the end of the month.

Within 6 months, you will be on your way.

Answer 3

They haven't deemed you trustworthy yet. If you know the card companies are turning you down becase you are replying to their junk mail, try calling the companies and asking if they have a basic card, to help you build credit, just ask them. That might help.

Answer 4

It is best to have two credit cards. It raises your score faster, as long as you are good at paying it. Paying the balance off completely every month is will also make a huge difference.