i have no credit at all ,for that i am being refused for credit ,any lender to recommend?

Answer 1

Having credit is not all that it is cracked up to be. However, if you really want to establish credit, go to your local bank. You can put money into an account and have it tied to a credit card. In other words, your credit limit might be $300, so you put $300 into an account. That way the bank knows they can get the money you owe out of your account if you don't pay your credit card. I would use whatever bank you have a checking account with.

Answer 2

This is really a common catch-22, isn't it? You've got to have credit to get credit. Doesn't make a whole lot of sense.

My first credit card was through Providian. It usually has high interest rates and its base customers are those who either are very young, have less-than-stellar credit or no credit.

If you insist on having a credit card (and believe me they can get even the most responsible, dilligent consumer into trouble), you could start with them and, after six months to a year of good credit, you'll no double start to get showered with credit card offers in the mail. Or, if not, get online and check out other credit cards. A lot of them will be glad to have you as a customer and try to win you over by allowing you to transfer your balance from your other card (the reasoning behind it for them is to get you on that balance if it's not paid off before the grace period - but the benefit to you is if you ARE dilligent in paying off this balance you are paying less money out ultimately because you're not paying interest as you did on the other card). Plus they'll usually give you credit above the amount you transfer. So you'll have one good working credit card with decent interest rates. My advice is to shred that Providian card (and cancel it immediately) after you transfer balances.

On a different note, applying for credit cards (and other credit, like for computers or furniture, etc.) has a negative impact on your credit score so be careful about the number of different things you apply for.

As a side note after reading others' responses here. Going to your bank is a good idea. They won't always give you one, but just having what they call "overdraft privelege" is going to show you starting to build a credit rating. You usually have to be with the bank for a while to get it because it's sort of like a mini-line of credit. I have one that is $500 and it works like a little credit account that, in the case that you write a check that you can't cover, money is automatically forwarded to your checking account from that acct. to cover the check. However, these usually do have not-so-great interest rates and if you do end up accidentally using it, you have to have scheduled payments back to it just like a regular credit card.

Also, you could go for a secured credit card from your bank, but my guess is your desire for a credit card stems from the fact that you don't HAVE $300 or $500 and if you did you wouldn't put it on a credit card.

There are tons of good tips here. Choose wisely and good luck.

Answer 3

Start with a secured line of credit. That means you put up your own $300 to a bank, and that is your line of credit. If you spend it all, you don't go in debt and learn a great lesson, and if you don't spend it, you'll get $300 back with interest and a brand new UNSECURED card..... Bam! You're off to building that credit score!

Answer 4

Start with your credit union or bank. They may offer a secured or unsecured credit card with a low balance for you. You may also attempt a line of credit with them.

If you have no relationship with a banking institution, apply for a store card and be sure that whatever you get, that you pay your bills ON TIME every month!

Answer 5

Here is a website at http://www.bad-credit-credit-card-for-people-with-bad-credit.info/ that provides a free list of secured and unsecured credit card providers that will issue credit to people with bad to no credit. If you can't get a unsecured card, you may have to get a secured card. It will at least help you build a credit history.

Answer 6

if you are trying to get a mortgage if you have 3 bills in your name and they have been paid on time for that past 12 months then i know a lender that will be able to help you. depending on what state you live in. shot me an email.

Answer 7

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 8

www.prosper.com
It is a site that sort of works like peer to peer downloads. You need to borrow money, people on there want to lend money. Good Luck.

Answer 9

take a look here
http://www.wesayes.com