i have no credit, and wondering how i can earn some. i've applied for credit cards before but am always declined because of insufficient credit. i dont work because i'm a full time mother but my husband works full time. how does america expect you to earn credit when the banks wont give you a credit card because you have no credit??? so how do i up my credit score from absolutely nothing to atleast something??
2007-01-09 07:33:28 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
A good way to start is with a secured credit card. It's a card,(master/visa) That you back up by sending them a few hundred bucks. That will be your spending limit. Once you have that, use it a couple of times for something small like gas or smokes and pay it off. Now you've established credit and can apply for an AMEX card. Don't miss a payment with these guys cuz they're real bastards. After a couple of months of this you should be able to get any card you want.
2007-01-09 07:47:15 · answer #1 · answered by Ricky J. 6 · 0⤊ 1⤋
If your husband is creditworthy, see if you can be put on as an authorized user. His credit record will affect yours this way (In most cases - not all report on Authorized users though). And will start to look favourable on your credit.
Or you can get a secured credit card from a bank known to you (Your local bank) or even try Orchard Bank, Bank of America, etc.
All are great places to open the door to credit for you.
2007-01-09 16:41:22 · answer #2 · answered by Alyssa 5 · 0⤊ 0⤋
Step One:
STOP APPLYING FOR CREDIT CARDS
You know you dont have the credit, You lose credit points each time you apply, it shows YOU NEED MONEY!
Step Two:
Build Credit By Getting a Secured Credit Card - Linked to your bank account,
Step Three:
Get Cell Phone Service and PAY ON TIME
Step Four Of Course:
STOP APPLYING FOR CREDIT!
2007-01-09 15:50:36 · answer #3 · answered by Danny H 2 · 0⤊ 0⤋
Go to a jewelry store and open up an "in house" credit line for a small amount. Make sure they report to the credit bureaus each month. Work your way up to open larger accounts elsewhere based on your credit history with the jeweler.
The idea to get your score raised fast would b ideally 75% paid off on the open credit line. However shoot for 50% should do the trick.
http://www.disputedemon.com/credit-score/
2007-01-09 15:45:22 · answer #4 · answered by CreditScoreBooster 2 · 0⤊ 0⤋
Get a credit card that has a credit limit backed by
your savings or checking account value. That way you
can start building your credit history.
2007-01-09 15:39:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋