Getting Started with No Credit History


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. 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. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » Getting Started with No Credit History

Getting Started with No Credit History

The content is accurate at the time of publication and is subject to change.
There are times when we needed cash urgently or wanted to purchase a new car but no cash available at hand. When we don't have the money, there are financing institutions that we can always run to. Yes, we can always borrow money from them to support our needs and caprices but without a credit history, it could be next to impossible. But what really is a credit history? Why is it so important? Credit history is a record from the major credit bureaus like Experian, TransUnion and Equifax. It is a report of all the transactions that you have made over the years which involve money such as loans and credit card. Entries such as unpaid dues and declaration of bankruptcies are also reflected in a credit history report. When lenders check on your credit score or history and got the figures they wanted to see that you can already say hello to the car or mortgage you're eyeing for. Now without a credit history, how can you get started? How will you even establish yours if there is no one who wanted to give you a credit? There is no reason to despair for you will get it in time. It just takes patience and you'll get what you needed. It may take some time for you to be able to finally establish your credit history and score but you'll surely have it so long as you do it the right way. One of the several ways on establishing a credit history is applying for an unsecured credit cards and bad credit secured credit cards. Some companies require their consumer a one-time application fee so there would be no need to make the yearly fee payment. Before applying for one of these cards, make sure that you know how they work and all the details regarding them. Once you have your card and starts using it, spend only on things you needed and make on-time payments so you can continuously establish your credit history. You may not have the urge or the need for any loans or feel that you would never ever need and want a credit card but as they say an ounce of prevention is worth more than a pound of cure so as early as now, you may need it or not at present, it would still be better if you start working on your no credit history now. Emergencies of course are unexpected and it would make you feel more at ease knowing that when the urgent need of money arises, you have places that you can turn to; your credit card companies and financing institutions. It has never been easy starting from scratch but it is a very achieving feeling that you were able to do it out of nothing, like building a credit history from zero. Once you`ve gotten an established credit history, make it a point to maintain its good standing, this way you are confident that you can get approved anytime with no hassles.

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: Summer 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Summer 2018 – Expert’s Choice

Posted: February 12, 2018

The sun shines more and more each day, flowers are in bloom and you already feel how hot it is getting - summer is here. Summer holidays are almost here, and you are in need of dire preparation. You can lift in spirits and let CreditLand ... 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: February 10, 2018

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
Price Protection: Credit Cards That Will Refund a Price Drop

Price Protection: Credit Cards That Will Refund a Price Drop

Posted: February 8, 2018

Those who often find themselves buying stuff and then discovering that they could pay less for the same item they've just bought, will appreciate this credit card benefit – price protection. This is the least known and the most neglected ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!