How can I start my credit? I don't have bad credit I just don't have any credit it all?

Answer 1

one way to "inherit" a good starting score is to have a close family member with a good score (700+) add you to one of their established credit card accounts in good standing (ideally, open 3+ years with zero/low balance). NOTE: you must be added as a ** joint account holder **, not just an authorized user, or the account and its good standing will not be added to your credit report.

once you both continue to make payments ontime, pay more than the minimum payments, and payoff early, you can open your own individual accounts with no cosigner.

be sure to track the improvement of your credit scores along the way (equifax, experian, transunion) ... opening too many accounts and having too many credit inquiries will hurt your scores. credit scores are also affected by average age of your open accounts, so keep your first credit card accounts open (even with a zero balance).

the only true way to build good credit is to maintain good habits over time. good luck!

Answer 2

Sometimes banks or credit unions allow you to borrow against a CD. Save up some money, put it into the CD, and then open a loan against it. Pay it back faithfully. This is a form of a secured loan but may be cheaper than secured credit cards.

Also, I noticed on my latest credit report that my telephone company was reporting to the credit bureaus. Perhaps if you pay your telephone bill on time, that will build good credit. Ask for your report (http://www.annualcreditreport.com ) and see.

Someone suggested buying something and paying for it on credit. This is a good idea but make sure whoever it is reports to the credit bureaus otherwise your effort will be in vain.

If you are a student -- or better yet, if you can be a student for a semester or so -- often credit card companies will give unsecured credit cards to students. Students are considered better risks than average people. I don't know where the companies target but I'd be willing to bet you'd be better off at a university than a community college (I doubt community college students are considered prime credit risks). Sign up for evening basketweaving or something. Then roam the halls looking for credit offers on bulletin boards.

Find out if a local department store will give you a credit card. Sometimes they are more generous than banks.

Answer 3

You have to show you can make payments on something you buy that pretty much cannot be paid for in one shot. I'd save about $500, then go buy something that costs $1000. Pay for it on time; don't put the 500 on it at the time of purchase. When it's all paid for, you will have started your credit rating. Over the years to come, you can make larger and larger purchases. Pay them off on time or a little early, and you've done it-- you've got credit.

If you want to keep your good credit, don't get married. Divorce will ruin it for years...

Answer 4

You will need to start building your credit by proving that you can make monthly payments to any card that is a Mastercard, Visa, etc. You may need to start with some offers like these:

http://monetizeit.net/z/1696/CD948/
or
http://monetizeit.net/z/1721/CD948/

Answer 5

Get your bank to make you a "secured" loan...easiest way in the world to get credit started.

Answer 6

If you get a loan from your bank, and pay it off, that will help your credit score a lot.

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