i have no credit rating as have never had credit and keep getting refused for loans.?

Question

how do i get a credit rating in ireland

Answer 1

catch 22 this. I started by getting a contract phone, then credit card, then built from there. Credit is crap. the same company that give me a car loan wouldnt loan £400 for wheels for it?

Answer 2

You need to join a credit union; it's the cheapest way to get a loan - you build up your credit rating with them and can carry it to other institutions. Do you have a bank account? If not, then open one. to open either a credit union account or a bank account, you need to have photo ID, like a passport or driving licence; you also need two proofs of address on utility bills, like an ESB bill or a gas bill or telephone; the bank will tell you what they want. Having a bank account into which you put money regularly, like your wages or social welfare, will get your credit rating off the ground. Make sure it's always in the black. You need to save with a credit union for sixteen weeks on a regular basis before you can apply for a loan, then you can borrow three times what you have saved, and agree regular repayments that suit you. the advantage to borrowing from a credit union is that your interest reduces as you pay back the loan.
you should have no problem borrowing from a bank either once your account is up and running; but it depends on how much you want to borrow.
A credit rating is a precious thing, and once you have it, you should protect it like mad, that is, don't default on any repayments no matter how small. If you need more info, your local community centre should have information on the MABS. The money and budgeting service - it's free to everyone, you just have to make an appointment to see them, and they might be able to give you more advice.

Answer 3

Open up a CD at a bank and borrow against it. Everybody qualifies for it because it is 100% secured. You can make monthly installment payments and it gets reported to the credit bureaus. Every bank has different parameters, but you can usually borrow 90% of the CD's value with a term the same as the length of the CD. Or open up a secured credit card or find a qualified co-signer.
SW

Answer 4

If you have at some time defaulted on paying for something, utillity bills etc, you may have a bad credit rating so will be refused, I think you can find out online what your credit rating is but don't know the address sorry!

Answer 5

One of the best ways to get credit when you have none, is to go to a department store near you and see if you can get one of their cards; if you can, make a small purchase; pay it off using minimum payment for several months and then pay it off. this will show to lenders that you have a line of credit and that you pay your bills on time. Caution: don't purchase more than you really can afford to pay back and make it dificult for you to come up with the payment and fall behind even one month. Another way is to go to your bank and ask for a b=very small loan of say $200.00 if they give it to you, do the same as you did with the department store. Even a small credit line proves that someone else was willing to extend you credit.

Answer 6

Get yourself a credit card - use it a few times (but remember to pay the bill all at once when it does arrive to avoid the interest fees). That will give you a credit rating!

Answer 7

Use the money your not spending on payments to buy what you want. If you can't save the money, you won't be able to make the payments. Staying debt free is better that building a credit score.

Answer 8

buy some thing from a catalogue, or some thing from a shop on hp terms nothing to dear but some thing that will take a few mnths to pay and then once you have paid it off you will a have a credit rating

Answer 9

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

Answer 10

try to get a retail credit card, then pay it off each month and that should build up your credit.