I would like to take out a personal loan, but always when i buy something i buy it in cash, now i cant get a personal loan,
Any good advise
2007-01-21 07:44:35 · 4 answers · asked by adriaan b 1 in Business & Finance ➔ Personal Finance
Start building your credit. Most people do that by applying for a store credit card. There are also credit card companies and some banks that offer the card on a debit program. You will be given a credit card and then send in money to load it up. You are only allowed to purchase whatever is on the card.
2007-01-21 07:59:50 · answer #1 · answered by Mike 1 · 0⤊ 0⤋
You can get a loan if you have assets to pledge. For example if you own a car or a house, someone will lend you money as it is secured by this asset. Likewise if you own any stocks, bonds, 401k etc....What will be required is a discussion with a legitamite lender.
2007-01-22 00:44:56 · answer #2 · answered by MagicalMke 4 · 0⤊ 0⤋
Head to "US BANK" with some money and fill out papers to open a "secured credit card".
Say you have $500.oo, you will get a credit card with $500.oo limit. Each month your will get your bill and each month YOU MUST pay it off in full. Your $500 sits in the bank like an insurance policy to the bank. You don't pay your bills, they get to keep it. SO SIMPLE.
Pay off your credit card each month for one year then you get to up your limit and get your $500.oo back. Thus the credit cycle has begun!
Pay off the card IN FULL each month and life will be good !!
2007-01-21 16:36:45 · answer #3 · answered by Kitty 6 · 0⤊ 0⤋
Get a cosigner. Also, start buying things on credit cards, then pay them off completely that month.
2007-01-21 15:52:23 · answer #4 · answered by rudy4prez 2 · 0⤊ 0⤋