How can I get credit history if ive never had credit?

Question

I keep getting refused credit because i have no credit history but how do you get it in the first place?

Im a full time manager working 45 hours per week

Answer 1

A secured credit card may help - this means you may pay $200 -$500 for a credit card that has only a $200- $500 limit but use it monthly and only on items you know you can pay off quickly. Within about 3-6 months it will help your credit score as long as you are paying other bills on time and not maxing out other accounts.

Answer 2

Get a checking account with an ATM. Use the card and never bounce a check. Build your balance over time.

After some time, get a credit card at a clothing store or a Best Buy or something like that. Use it occassionally, but always pay it off.

Over time, these cards will increase your credit limit. If your available credit grows, so will your credit score. But it take a long time.

Just be careful all that plastic doesn't create a monster out of you. ALWAYS pay everything off everytime a bill comes. NEVER, make minimum payments.

My credit score is 790.

Answer 3

Let me just explain that all the answers you received for others are great although it takes way to long. If you want instant credit in thirty days without paying for it here is the simplest way in the way of credit that is possible. Have your mother, Father, or friend that has great credit add you as a user to an existing credit card. The next month that this reports it will show up on your report as if you have had the account for several years. At this point you then go apply for a new credit card on your own. If you need anything else let me know.

Answer 4

You need to reg to vote , you will have a credit history if you have a bank account. have a look at your record with experian

you could get a credit card with capital one . keep it low .get abalance of £200.00 use it and then pay the balance of straight away .you will then start to get a history butbe warned becareful
do't let the credit go to your head . that how you get into trouble.
credit card are great for those emergencey but what tends to happen because you pay and clear your balance the company start to increase your balance and then increase the balance
then before you know it the cardbalance is £5,000. and your maxed out.
You have a high paid job the balance normally go off your earnings but you can tell you don't want the increase.

always take out payment protection on cards some companys
charge per balance some will cover all cards. but make sure you cover your self .

Be aware that all credit is added to together so your max borrowing is normally three times your income but that loans morgagae everything .so don,t take out a LARGE LOAN IF YOU ARE ALSO TRYING TO GET A MORGAGE .

Answer 5

You need to buy and show a trail of responsibly buying.

# Why don't I have a credit score [history]?
# Credit scoring models cannot generate a score without enough credit information. If you have little or no credit history, you will probably not have a credit score available

Start with something like a mobile phone contract and always remember to pay it on time.

BTW If you're lucky and live in a certain area these guys give you a free credit report (no taking money off you or pestering you, it was featured on Channel 4 news a while back)

Also see if you can put something on your name like the electricty bill.

Most important thing is to pay on time.

Answer 6

If you're a student with a steady job you ought to be able to get a student credit card to get you started. The interest rate will be high and the credit limit will be low but that's about all you can do. If you have any student loans you'll establish some credit by paying them back. Also, a bank MAY give you a small loan which you can repay to get some credit history. Good luck :)

Answer 7

If you're a student with a steady job you ought to be able to get a student credit card to get you started. The interest rate will be high and the credit limit will be low but that's about all you can do. If you have any student loans you'll establish some credit by paying them back. Also, a bank MAY give you a small loan which you can repay to get some credit history. Good luck :)

Answer 8

This never made since to me, you try to get credit, but can't because you don't have enough credit, but you can't build credit because no-one will finance you.

What you will have to do is open one or two high risk credit accounts, they will usually finance anyone, just make sure you pay early every month, stay below your credit limit, and pay more than the minimum payment every month,m if possible double pay. Capital One is a good start. The bad thing is that every time you apply for credit and are turned down, it reflects on your credit report, so doing to many will hurt you as well. It will take time to build your credit, so just be patient, and once you get it, do everyhting in your power to keep it in good standing, my credit is pretty bad, and that is just as bad as having no credit, but it takes years to undo the bad, where all you need is to build it and better offers will come to you.

Answer 9

Do you have credit cards? Own property? Bought anything on HP? Ever been in debt? Continuously in over-draft? These are possible ways of establishing a Credit Profile (positive or negative). To get the ball rolling, take out a small loan from your bank, or apply for their credit card. They'll probably only require bank statements which they'll have access to anyway. Once you've got the loan/credit cards and have proved how responsibly you handle credit by meeting your regular payments, then you could apply for credit elsewhere.

Check out the Experian or Equifax website for more info. They handle everything related to credit.

Answer 10

get a bank account, get plenty of money coming in and leave in what you can and after a while ask the bank for a loan, they will look at your account history more than your credit score.

Also pay your electricity through a bill rather than a pre-pay meter, your gas and car/homeinsurance too.
this will give you a good record of paying up and they will all accept you without credit checks.

another good idea is to get a mail order catalogue like kays or something, you apply for an account then buy a few reasonably priced goods and pay up in cash as they too will refuse you credit, after about a year or so then ask for a credit account and they will look at your file and see you like to pay them and they will accept you.

if you keep applying before you have a good report then all you are doing is making your report worse each time.