How can I build my credit if I have no credit?

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asked 6 days ago in Credit by legientcrow (210 points)
How can I build my credit if I have no credit?

1 Answer

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answered 6 days ago by linda (6,530 points)
A great way to build credit when you have no credit established yet is to first get a secured credit card where you put a deposit down on the secured credit card and then use it like a normal credit card.

As you use the secured credit card and make the payments on time then your credit will get established and start building up.

You can also establish credit by getting someone with good credit to be a cosigner on a car loan or other loan such as a student loan and then pay the loan back on time.

Then when your credit is built up you can take out other loans and credit cards that you can pay off which will continue to build your credit score up.

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