Curiously, applying for a loan or credit card will not only cause you bad credit, but it will not be creditable. Although this may seem unfair, it is a way of doing things in the area of complex consumer credit. The lender is skeptical about opening an account with people who do not have a credit history simply because they do not have anything to judge your reliability.
What can you do if you can't establish a credit record without credit, and you can't get credit without a credit record? It is almost impossible to rent a car without a credit card, stay at a hotel or shop online.
Let us explore some ways to solve this "Catch-22".
Credit Card Entry
Although many major credit card companies will not give you a card with no credit history, some smaller credit card cards will be given to you. Department stores may be candidates. Gas station cards are also easier to get.
You can also find a credit card company to review your overall financial situation, not just your credit history. Some lenders will look at your work experience, your housing situation, and how often you move. If all these meet their criteria, they may approve your application.
Credit Cooperatives
If you are a credit cooperative social worker or qualified for membership, please review their terms of issuance. They usually have more relaxed conditions for members. You no longer need to work for a specific company to be eligible to join the credit union. Therefore, it is necessary to check if there is one in your area.
Student credit card
If you are a student, then it is best to use a student credit card. Student credit cards can be a great way to establish the credit history you need after graduation. Many banks issue credit cards to university students, especially banks located in university towns and towns.
Secured Credit Cards
As a last resort, due to its high interest rates, secured credit cards are available. They are provided by lenders who will give you a credit line equal to or slightly higher than the cash deposit you give them. As your experience with the use of cards increases, these lenders usually raise your limit without requiring you to increase your deposit. Occasionally, you can use your lender's experience to apply for unsafe cards.
When you manage to get a credit card, don't over-consume - you will regret it in the near future. Use your card wisely. The most important thing is to make sure you pay on time. Your goal is to establish a good credit history, not just get a credit card. Soon you will complain about all the credit cards provided to you in the mail.
Orignal From: How to get a credit card without a credit record
No comments:
Post a Comment