I have no credit and I want to raise my credit score
2006-12-29 13:43:26 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
Firstly have a sound debt management practice. That is you save some money on a regular basis and keep doing this. Then you can apply for a small personal loan and make repayments plus one each second month. This way you will soon build good credit and have savings.
2006-12-29 14:21:27 · answer #1 · answered by SEO 3 · 1⤊ 0⤋
You may not be able to get a Major credit card with no fees if you are young with no credit history. The best way to establish credit is to get a department store card. Just make small purchases and pay it off every month(department store cards are generally 21% interest or higher so you dont want to start paying a lot of finance charges). You need about 6 months worth of payment history in order for it to make a difference on your credit bureau(just having a card for 6 months but not using it will not help you establish credit).
2006-12-29 17:19:44 · answer #2 · answered by kitkat5 1 · 0⤊ 0⤋
If you have no credit, it's best to start off with a department store card. Once you've made a purchase and paid it off, and perhaps had it about 6 months, all the VISAs and Mastercard application will be bombarding your mailbox, trust me.....
Or, you can do a secured credit card, meaning you put $500 in a savings account and they give you a VISA/MC for $500.
2006-12-29 13:48:34 · answer #3 · answered by Kiss My Shaz 7 · 0⤊ 0⤋
I find that a Visa credit card works well for everything I need. I don't think it depends on which credit card, it depends on how you pay your credit card whether timely, how much, how often you use it even perhaps. So you wish to buy a house already, well it's better to save for your downpayment.
2006-12-29 13:52:54 · answer #4 · answered by sophieb 7 · 0⤊ 0⤋
I started with a Discover Card and I have lots of credit now. It is easy to get but it is not taken everywhere. I say Discover only because I started with it. Just pay it off don't believe the myth that if you pay it off you can't build credit.
2006-12-29 13:50:40 · answer #5 · answered by Brian 3 · 0⤊ 0⤋
Get a Bank Of America secured card, you put 99 down and get a 500 credit limit, pay it off on time for a yr and u get, your 99 dollars back + the card becomes unsercured!
2006-12-29 13:51:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
A credit card Visa or MC from a major finacial Iinstitution.
the first three are Citibank, Bank of America and Chase Bank ....
2006-12-29 15:35:24 · answer #7 · answered by Naemesees 2 · 0⤊ 0⤋
Macys Visa credit card u get two cards in one
2006-12-29 13:50:45 · answer #8 · answered by undercovernudist 6 · 0⤊ 0⤋
I did it with a Sears card. For the people who say you can do it with a "secured" card, you have to make sure they make regular reports to a credit agency, or else that's useless.
2006-12-29 13:52:23 · answer #9 · answered by Katherine W 7 · 0⤊ 0⤋
Orchard Bank
2006-12-29 13:48:17 · answer #10 · answered by mwms70811 1 · 0⤊ 0⤋