Getting Financial Security without Credit History

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Getting Financial Security without Credit History

Getting Financial Security without Credit History

For people that come here from foreign shores, a common problem that they have to face is to provide their creditworthiness without the help of credit history. Due to the problem of no credit history, people tend to face quite a lot of hardships even while doing certain simple things. Hence, it is recommended that you be aware of the different measures that you can adopt in order to not have the problems concerned with a lack of credit history. Many of these measures are quite simple to follow as well, which means that you can implement them without really having to work too hard at doing so. Getting a social security number The first thing to do upon arriving here would be to get a social security number. There are a ton of reasons for doing so, but for the moment, you should get this number in order to build a credit history. In this manner, you can be rest assured that you will be able to start building credit history right away by making use of this particular number in order to open bank accounts and obtain credit cards. All of these actions cumulatively count towards getting you a good credit score. Getting more credit cards If you have a stable source of income, it would be highly advisable to get credit cards right away. Since you have no credit history, you might find it tough initially and might even have to get it after paying a certain amount of money as deposit. However, you need to remember that this card comes very handy in building your credit history. This is all the more applicable when you pay the debt back regularly and don`t let it accumulate to a large amount. Building history over time As time passes, you will be able to build a very good credit history. Hence, you might have to be perseverant and work towards building a good history. Imbibing good financial practices and not ending up in debt unnecessarily are all highly recommended things to do in order to be sure of financial security even with no credit history. Although it takes time, you can easily get to a good credit score if you don`t commit too many mistakes financially. This is an important aspect to keep in mind and not simply forget about in the long run. When you follow the rules and are responsible with your financial matters, it is quite unlikely that you are going to have any problem as such to deal with. In fact, people tend to have a lot of issues with credit scores and reports when they are lax with their money and don`t take good care of it. If you are a little sincere and actually work towards a good credit score, it is quite unlikely that you will ever be worried about the problem of no credit history. Just bear in mind that being patient while your score is being built can help quite a bit in the long run. You wouldn`t have to be as worried about getting approved for loans and things like that.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners Winter 2017/18 – Expert Choice

Top 5 Cards for Travel from Our Partners Winter 2017/18 – Expert Choice

Posted: December 8, 2017

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: December 1, 2017

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Credit Card Tips For Holiday Shopping 2017

Credit Card Tips For Holiday Shopping 2017

Posted: November 27, 2017

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading