How To Build Credit Fast with No Credit

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How To Build Credit Fast with No Credit

Looking for the best way to build your credit? Think if you don’t have credit card or loan, that seems mostly like a blank slate. Your credit report shows your responsibility that you have repaid your money that you have borrowed from the credit card service provider or your loan lender. If you don’t have any credit and still looking for best ways to build credit with no credit, this article is right for you.

How To Build Credit Fast with No Credit

In this article, we will show you how to build credit with no credit. As without any credit history, many creditors and lenders will not lend you money so it is important that you should have good credit history before you apply for loan or credit card.

How To Build Credit Fast with No Credit

Refer below key points that help you to build credit without credit card or with no past credit history.

Consider what lender needs

Since you are thinking about establishing credit for the first time, your FICO score will not be considered. In this kind of situation, creditors or lenders will need to look for other factors that can help them to make a decision whether to lend you money or credit card or not.

  • Employment History: Your employment history can be considered to look at by lenders when you have no credit. They will check that if you are responsible enough to do a job. If there are any periods of unemployment, this indicates that you don’t have a steady job. Having stable job is improve the chances of getting approved.
  • Bank Accounts: Everyone has bank account nowadays and your bank statements can be considered by a lender for the first time without credit. Bank statements play a vital role in the approval of credit card or loan without credit.
  • Bills with your Name: Creditors or lenders will be looking for how many utilities you own. Or having gas bills, postpaid bills, cable TV bills with your name also helps. Having your name printed on those accounts will not improve your credit score but it is quite helpful for them to approve your loan or credit card application.

You must have above points justifiable when you are planning to build credit with no credit history.

Start with Your Bank

As discussed earlier, everyone has a bank account now and there are few things that really help you to boost your chance of establishing good credit. The very first thing is to open a bank account with your name, maintain regular balance in your account. When you are having an active bank account with good standing, it indicates that you can manage the money you borrowed.

You can establish a relationship with the bank and get loan or credit card through them, this will be quite easy than applying to unknown credit card company or loan lender. As you are a customer of your bank and having a good standing report with an active account, will surely improve your chances of getting approved by your own bank.

Apply for Secure Credit Card

Anyone can apply for secure credit card, as it does not require credit. Because the secured credit card requires you to deposit money in an account to secure your credit card. Good thing that, you never run out of your balance, as your secured credit card limit is same as the money you deposited to your bank linked to that card.

If you are failed to make your credit card bills payment, a bank will deduct your billing amount from your deposit. Once you are able to maintain you’re and pay your secured credit card bills on time with good standing for a while, you might be able to get a regular credit card from bank or loan.

See also: Money Earning Apps for Android

Regularly check your credit score for progress

After maintaining your bank balance or secured credit card payments in a timely manner, you will need to check your status by viewing your credit report or score. You can also hire some credit repair agencies that help you to repair your credit if there are any negative items in your statements.

You might need to pay some amount to check your complete credit history. It worth paying, as it can make a lot of difference when you are applying for loans and expecting it to get approved. We have listed some of the places which helps you to check out your personal credit information.

Credit Score Resources

Annual Credit–




If you are looking for how to build my credit with no credit, we hope this article has helped you.

When did you check your credit history last time? Do share your thoughts on how it helped you with your loan or credit card approval process. We would like to hear from you.

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