Without a credit history, things can be quite challenging in this country. It is important to know how to go around building a credit history, and what you can do in the meantime, while you are building it. There are a number of things that you might want to take care of in order to ensure that you don't have issues at a later stage. With no credit history
, getting loans can be extremely challenging. You might end up spending a significant amount of time trying to purchase items or get new things, as it can get quite complicated.
Applying for a SSN and opening a card
While you can technically open a bank account without a social security card, it is not possible to obtain a credit card
without one. Hence, before anything, it is necessary to know how it might be possible to apply for an SSN and get it right away. It is strongly recommended that you get this card as soon as possible, so that you are able to build a credit history right away. With this, the problem of no credit history shouldn't be such a burden after all. You can quickly start working on building your credit history and get it rolling.
Making positive strides
Once you have the card in place, you should work towards building your creditworthiness. This can be done by probably trying to make payments on time and not missing out on any of the payments that might have been pending. When you make the payments before the due date, your creditability increases quite a bit and you can be rest assured of not having to worry about the issue of no credit history. The history will probably be compensated with the fact that you make payments as they are due and haven't really missed out on any payment as such.
Maintaining a low debt amount
If you have no credit history, it is recommended that you don't end up with a massive amount of debt. This is quite an important factor to consider, since many people fall prey to the debt cycle. If you can control yourself and avoid the temptations of getting into this debt issue, then you wouldn't have to really be worried about the creditors looking negatively at your profile. At least for the initial stages, it is recommended that you learn to manage with what you have rather than demand for it by means of loans and borrowing.
In this manner, you can be assured that the problem of no credit history will be something of a thing in the past. There are a couple of things that you might have to take care of, but eventually, you should find that this is not really a problem for you to be worried about. You should be able to find a solution and fix it reasonably quickly. Most of the credit lenders will analyze your profile and if it is for a genuine reason that your credit history is short, you might not really have to be as worried about it.