How can I start building credit if I can't get a credit card?
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What are some ways to start to build credit besides getting a credit card. I am 22 years old and I live with my parents and I work part time and go to school. I haven't had loans or credit cards or bills or anything. I want to start building credit so I can move out eventually. I am very frustrated because I have been trying to get a credit card to start building credit history but it keeps getting denied due to no credit history and not enough revolving accounts opened long enough. My bank is chase and they no longer offer college or student credit cards. I've tried different types of credit cards and different ways and it just isn't working. So, my question is has anyone else had a problem similar to this and what are some ways to start building credit history without getting a credit card or taking out a loan or making a big unnecessary purchase?
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Answer:
Best cheapest way to establish credit is a secured bank loan pay off over 7 months and repeat until you can get an unsecured one. Getting a CC to start your file is stupid
Alyssa at Yahoo! Answers Visit the source
Other answers
Generally, credit is built by making a payment, and making it on time. if you have no credit, you can usually still find SOME credit card company that will accept you, but their interest rate is going to be outrageous. its something you would just have to deal with however. When my dad died, we did everything based on his credit. so my mom had to start out with no credit. She got 50K from his life insurance plan and put a down payment on a car, then intentionally did a payment plan on it. That really boosted her credit. After that she bought a house, and made alot of payments on that as well. So basically you need to have something that you can make payments on. Like a car, or a house, or something like that. each payment that you make on time will boost your credit, and if you pay it off completely it will severely increase your credit depending on how expensive the item you bought was. I would keep trying to find some credit card holder that will accept you, and know that it doesn't have to be through chase. my uncle had horrible credit, but built it up because discover card accept him, and he made alot of payments on medical bills. hope this helped.
You cant. You get credit by buying something with the card and paying it off.... That's how it works
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