If i have insuffient credit, how can i build it ?

Answer 1

Try applying for a Capital One Credit card. Usually the first one is $250, then they charge you the processing and annual fees. Pay those off. Then use the credit card for one of your monthly bills like a cell phone. After it gets charged to the card, pay it off like you would a regular bill. Do this for six months, then see if they will give you a line increase. If they do, add another bill onto it on auto-pay, BUT, make sure you have that money set aside already to pay the bill from your checking account. Keep up this pattern and your credit score will jump. Be prepared to keep the card. Credit cards for a real good history work best when you've had them at least seven years. So take care of your card and don't think of it like a credit card, but more like a middle man for paying your bills from your account. Have patience. Research credit tips. Good luck.

Answer 2

Deposit money in your bank and borrow money from that bank(or credit union) using your bank account as collateral.It is a totally risk free loan to them as they are lending you your own money(usually about 80-90% of your deposit) AND charging you interest on it.If you ever decide not to pay the loan,they already have the account with the money in it pledged as security for the loan.If you do this make sure that you keep the loan open for at least 7 payments before you pay it off.That way the loan gets reported to the credit reporting agencies with a record of payments established.That is what creditors look for.A history of on time payments when loaning money or issuing credit cards.

Answer 3

Here is a neat trick to build credit.
Go to your bank and borrow 10,000.00. To get the loan explain to the loan officer that you will buy a 10,000.00 certificate of deposit from him and use it as collateral. After 30 days or so your loan is due due and you cash in the cd to pay off the loan. You are out a few dollars for the difference between the interest you pay on the loan and the interest you make on the cd. Your credit shows you borrowed big and were good for it.

Answer 4

If you have insufficient credit and have no credit cards try to
obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.

Answer 5

You should check your credit score to particularly know how you credit score is. if your credit score is 0, so you may apply for secured credit card it will improve your credit history http://www.yourcreditoptions.com/Secured-Credit-Cards-870387-page.php
Another choice is unsecured credit card for people with no credit but such kind of cards traditionally has enormous fees and lenders don't offer high credit limit. Obviously it will boots your score too.
If your credit score is about 350-619 you have bad credit (in spite of word "bad" it isn't so bad)) it's much better then no credit history. In that case you can get more attractive card try below http://www.rebuild-credit-cards.com/Cards-for-Bad-Credit-906201-page.php
Eventually check your credit score and apply for credit card that suits your credit it will improve your FICO. And of coerce you absolutely must pay all your bills on time! It's the main rule.

Answer 6

Get a copy of your credit reports and call each creditors or collection agencies and negotiate the balance. They will often knock off part of the debt. Everyone understands we all have difficulties now and then, but it shows credit worthiness when one repairs the past rather than ignoring it.

Answer 7

buy little things with your credit card and pay it off on the first bill

Answer 8

get a store card - like Sears or a local store in your area -
buy something (small)- AND

Pay it off - regularly - no late payments!!
until done -

pay more than the minimum so you don't pay too much interest

best of luck!