Are there ways to get "good credit" without owning a credit card?

Question

Because people say you need good credit to get loans for houses, etc., but then they say "don't get a credit card, they are bad news"... so how can you get good credit other than by having a credit card?

P.S. I also already have a debit card, that works as a credit/debit card and I buy alot of stuff online with it, which is always billed toward the credit feature... so does that mean I already have somewhat of a credit value built up?

Answer 1

A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account. apply online at: http://www.credit-card-gallery.com/PrePaid_Card.html

Answer 2

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Answer 3

There are other ways of getting good credit. I didn't get my first credit card until I was about 35 but had bought houses and cars before that. I didn't even know what my credit score was until about age 50 and still have only heard it 3 times.
I do have credit cards now but didn't need them to get a start.

My first debt was a car when I was 19, I paid it off in 6 payments, my dad cosigned. Anytime since then I have gotten whatever I asked for at it has been 40 years.

I would get a credit card to get started just because it is easier than other ways. Charge one thing a month and write the check to pay for it at the same time so you don't forget.

Answer 4

Hey congratulations you see the hypocrisy of credit repair and credit use. Every where you look you see ads for how great credit cards are then the next commercial is for credit repair or debt management.
You don't have to have a credit card to have good credit. You will need good credit to get more credit cards. Go back and read that again.
If you have a good work history and a good rental history you should be all right for a house. You may have to find someone with a brain that doesn't do fico lending to underwrite your mortgage.
Be proud that you own your stuff not proud of your credit score.

Answer 5

The credit scale is from I believe 330 to 830. If you don't have credit cards then you haven't started working on your credit. If you have a debit that is something but not a big credit builder. Your credit maybe around 580 to 600. But in order to build a good credit you need to open up a credit card maybe two. The reason they say it's bad news its cause some people can't control there spendings and end up in debt.. But if you can control your spendings I would recommend you get one for the sake of your credit. My credit at the moment is 740 and thats excellent. I also have like 4 credit cards which I only owe some money on 1, I keep the rest just cause of credit and they start increasing your spending limit and thats a good indication that your credit is improving

Answer 6

I own a credit repair agency, ( one of the legit ones) The best thing to do is get a credit card and be responsible with the card. You can't get credit in the future if you can not show lenders how you have handled your credit obligations in the past. The way to help your credit and be able to obtain credit whenever needed is to keep the balance of the credit card or line of credit you use under 30%. Use the card to fill up your car every two weeks. All you really need to do is show activity on the account and keep the balance relatively low. To answer your question, you can always piggy-back or mirror someone else credit. They could add you on as an authorized user to a credit card or line of credit that they already have. Be careful though because with some cards, once you're on , you're on and if that person defaults, it will show up on your credit as well. Rumor is that this trick is not going to work much longer because the credit bureaus have caught on and are going to stop including these type of accounts in their credit scoring process. Hope this helps.

Answer 7

You can build your credit by having utilities, car payment or a cell phone/telephone in your name and paying them on time. If your bank account is in good standing (no overdraft fees, negative balance, etc.) then that can reflect responsibility and possibly be used in lieu of having a credit card.

And if at all possible, LEAVE CREDIT CARDS ALONE. They are bad news. If you are very responsible and pay off your balance in full every month, then you might be able to handle it. Or if you can handle having one credit card for emergencies, (real emergencies like car breaking down unexpectedly--not cause you want a new outfit to go out on Friday night).
There are credit cards called secured credit cards, in which you pay money out of your own pocket and continue to replenish that amount, which is the smartest way to go if you decide to get a card.

Good luck.

Answer 8

Interesting question....

You could go to a social loan club.
You can build your credit and meet good people.

http://lendborrowclub.com
Borrow and lend directly from
people you choose.
It's safe, fair & easy


Robert

Answer 9

yeah, i have never had a credit card but ive had an ex destroy my credit history through his business, all i did to repair it was find an understanding hire/purchase business and rented goods till i owned em, it re-instated my credit history and i finally have new things, lol ;)

Answer 10

YOU NEED CREDIT TO GET YOUR CREDIT RATED. THERE IS NO OTHER WAY THE CREDIT BURUE CAN RATE YOU.