I have never had credit in my life,am 49. I am being denied access to rentals and work be cause of. Why?

Question

I own two nice cares Just bought wife a monte carlo paid cash.
everthing we own is paid for. Don't make a lot of money but I save up for what we need .is this wrong . Getting tired of the prejudice.

Answer 1

Option 1) Ask the bank where you bank for a credit card (actually, ask them for 2 or 3 dif. ones) if you have a lot of money there (as I can see according to your comment) they will give you the credit card with no problem and almost no fees.
Option 2) Ask someone who already has a credit card, with no lates, with good rating to add you as an authorized user. All of his/her history will be automaticaly transfered to your credit. Be carefull. bad history too!!!!

Unfortunately, you need credit history!!

Answer 2

If you have no credit history to show people then they feel they have no way of knowing if you are responsible. I feel it shows responsibility to have no good credit while haveing no bad credit but thats not how a lot of people look at it. So get a card with a low balance and use for those times when you want to buy something off the TV, computer or need to pay a payment so it wont be late. Just write a check and send to pay for it when you use the card. You will never have a balance due as long as you pay when you use it by sending a check that day.

Answer 3

Good For YOU!!!! I also choose to live without credit and save for what my family needs and you would think I have two heads the way that some people look at me. Unfortunately, if you are being judged on your FICO score you will not have one without credit. It seems like you should have a perfect credit score but instead you don't exist.

What you should do - especially in a rental situation - is provide documentation that you have paid your utilities on time for X number of years. Give references to previous landlords who can show a timely rental payment history as well as they are really looking at your FICO score to determine if you will pay on time.

For employment situations, I would be very upfront with potential employers. Anyone who has you sign a credit check form, make sure to tell them " I do not use credit cards by choice. Doing so causes me to have a very low credit score when pulled. If you would like to see documentation of my payment history as part of your hiring process, please just let em know. I have used this in the past with much sauces.

Good luck and keep on living debt free

Answer 4

The best thing to do to establish credit is to get a credit card, where you put money into an account to back it up. Either that or go to one of those pay-to-own stores. I understand that you don't need to, but unfortunately, our culture runs on credit. Try renting a car or getting an airline ticket without a credit card.

Answer 5

I know a person worth millions. He always paid cash for things, so he didn't have any credit. When he decided to get a department store card to build credit, he was declined. Even the local name recognition wasn't enough to get him approved. This type or discrination seems a bit wrong, but you do have to undertsand why they have to do it. I would try to build some credit history by gettins some sort of credit card or trade lines open.

Answer 6

According to the ways of "credit life" they see you as a bad risk. No credit build up it, does not show them history as to whether you pay on time or late. Sometimes you might want to just buy something that gives you 90 days same as cash - then before the interest goes into effect - pay the bill complete. Slowly you build up some credit history.

Answer 7

When it comes to credit you are just a number tracked by your social security number. They don't look at "Joe" driving a nice car. They see what "Joe" has done on paper as far as paying off balances in a timely manner. In laymans terms: Creditor #1 extended Joe $1,000 credit limit and he pays it back on time in full and Creditor #2 extended Joe a car loan and he paid it back each month on time....so now based on these other creditors reporting, Creditor #3 can extend you a lease because they haven't seen anything on your credit report that says you have been evicted, sent to collections, etc.

You are kinda like an 18 year old if you have no credit. You should just get a credit card with a low balance. Make one charge each month, pay it off in full.

You may want to consider contacting a family member with excellent credit and asking them to "on paper only" put your name as an authorized buyer" on their acct. When I was 19, I put both my sister and brother who were 4 & 6 years younger than me on my credit cards as authorized buyers, but never gave them the cards as protection for myself. My brother was able to finance a brand new truck with excellent credit at the age of 18 because he had been establishing credit for 4 years based on my credit history.

There's your solution if you refuse to get a credit card in your name.

Answer 8

no credit means they don't know your credit risk. nothing wrong with having a no-annual fee credit card you pay off every month to build credit.