I need a personal loan for $2500 but I don't have ANY credit?

Question

Would the bank give me that much?
With a full time job making $7 an hour?
I really want to get some kind of credit established so when I get a new car, my interest rates won't be so high.

i make 1025 a month after taxes.. im getting a job in six months at a factory... i have no bills. i can afford it. trust me.

Answer 1

Apply for a department store credit card. Macys will give a credit card to almost anyone with some regular income. Sears is one of the hardest to get. Alternatively, you could join a credit union. They tend to have pretty generous loan standards.

Don't expect to get exactly what you want in terms of dollar amount overnight. Credit is something you have to build, but the sooner you start the better. It tends to build very quickly or get destroyed very quickly, so make sure you religiously pay at least the minimum due on time every month.

As a side note, please be very cautious of giving out your personal data to anyone via e-mail. Only apply for credit at known, valid businesses, and not via e-mail or through unfamiliar websites. You probably know this, but just in case...

Answer 2

I'm certain that you might find every financial answer at= financial-care.info-

RE I need a personal loan for $2500 but I don't have ANY credit?

Would the bank give me that much?
With a full time job making $7 an hour?
I really want to get some kind of credit established so when I get a new car, my interest rates won't be so high.

Answer 3

1

Answer 4

you do not say why you are borrowing the money -- is it just to establish credit -- wrong reason -- go to the bank and get one of there credit cards -- do not worry about interest or limit -- buy all you food on the the credit card and put the money that you would have spend back into your checking account and each month pay the credit card as soon as you receive it and pay the the whole balance. do this for six months and also put aside a little money into the savings account you are going to open at the same bank and you will not have any problem six months getting a car loan!!!

Answer 5

That is more than you can afford to repay on $7 an hour. Do you have any idea what the terms would be? Try to get a secured credit card or have a parent make you a user on their card. Unless you plan to live with parents for 6 years with free rent and them buying your food you can't afford a car payment or insurance. Wait until you get a career going before getting into that kind of debt.

Answer 6

Join Prosper.com. On the other hand why 2.5K, do you need this amount for another thing? You can start with a small unsecured credit card, maybe $500. If you go the unsecured personal loan route, keep it to around $1,000. Also dont pay the entire amount fast, just keep your monthly payment current...

As far as the car goes, dont worry about it...If you have a good steady job and income...you will be alright.

Answer 7

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Answer 8

There is a great place to go with this. I was in a very similar situation.

This is getting help from real people without the use of banks or credit card companies. Good Luck!

http://www.prosper.com/join/lzc5wh

Answer 9

Are you getting the personal loan solely to establish credit? It would be better to get a credit card with no annual fee, use the credit card and PAY OFF THE BALANCE EVERY MONTH (cannot emphasize that enough).