How do I get credit w/o getting a credit card?

Question

I want to start my credit line but I don't want to get a credit card for the fear that I might try and overuse it. Is there any possible away around using a card?

Answer 1

Get a car loan or purchase something on installment. Many furniture and electroinics stores offer financing. Also, you could get a store card from a department or clothing store that you don't go to too often.

Answer 2

Without revolving credit (and showing you have the ability to responsibly use it) its pretty hard to build credit.

Installments will help (i.e. car loans etc) but its hard to get a car loan with zero credit, especially at a good rate.

You really need to get a credit card to truly build your credit rating.

Just remember the fastest way to increase your credit score is to purchases items which total no more than 10% of your total purchasing ability and pay the balance off in full every month.

When you start to leave balances on your cards, your limits will increase, but so will the danger of getting yourself into a situation which will require thousands of dollars to get out of in the end.

Get a card, use it only for gas, or food, or somthing which you have an idea of a monthly budget.

Personal experience - don't break it out at happy hour ;)

Answer 3

Your fear of creidt cards is wise but, it is also vital that you establish good creidt so you can get great deal like, a car, a home some day, an apt, students loans with low intrest, etc... I suggest once you get a credit card you request a low limit on what you can spend like only $400 that was the limit on my first card. Even if you max it out it would not be difficult to get yourself out and hopoefully it will teach to use it like a "Cash Card"

Remember it is a Cash Card not a credit card!

To build credit you can also use the following methods

-Cell phone
-Car paymnents and insurance sometimes
-Utility bills
-Student loans
-Debit card
-Savings account can help establish credit
-Any other bill where they check your credit (they will ask for your Social Security number in order to open an account)

Here are some tips to help you keep the good credit once you establish

-Keep your address for a very long time try to use your parents for as long as possible (shows stabilty when you can tell them you have lived there for 22 years)
-No PO Boxs it show instability
-Pay all of your bill ONTIME NEVER late (if by chance you are late call them company immediatly and work soemthing out they are not looking to hang you out to dry if you are fai and honest with them)
-Pay off your Credit Card every month in full (one time a year leave a little bit not paid off so you can priove to them you can pay interest too)
-Don't allow them to raise your creit limit with out your consent to much outstaning creid can be harmful
-Only keep one or two major credit cards and or debit cards (don't use store cards)
-If you open up a store card for a discount or something do it but, immideatly close the account once paid off.

That is about all I can think of off the top of my head check out this link it has some great resourses.

Answer 4

go somewhere like Circuit City and by some kind of electronic on their credit plan, or some jewelry stores will do this also. Or get a credit card with a small credit line, this way you have one for emergencies, put it in a plastic bowl of water and stick in your freezer. then if you are tempted to use it unnecessarly, you will have to thaw first.

Answer 5

use a bank card or a cash card instead from bpi or a debit card which i think other major banks can provide you of.it does not require you to open an account pero dapat depositohan mo yan.kung walang laman walang swipe.

Answer 6

Get a checking account and keep it in good standing, don't bounce checks or overdraw your account.

Answer 7

buy a cheap car from one of those "everyone approved" dealers