How to Improvise If You Have No Credit History


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Credit Card Applications » Research » Guides » Building Credit History » How to Improvise If You Have No Credit History

How to Improvise If You Have No Credit History

The content is accurate at the time of publication and is subject to change.
Having little or no records of a credit history would give you a disadvantage in today's society, as it is mostly used to provide you opportunities and choices to get by. So if you lack these financial records, then you would have a harder time getting the necessities you need as a consumer. But fortunately, there are ways you could use to get what you want even if you have no credit history and these cold even help you start one. First of all, you need to keep in mind what institutions and your associates are searching for in a credit history. They are looking for guarantees that you are a creditworthy and responsible consumer, so you need the right documents to prove that you are one. Since you are consumer and most probably have made purchases and payments before, you could use the documents of these transactions to your advantage. You could use your electricity bills, water bills, bank account statements, and other similar documents to show that you have a responsible payment record - most especially if you have paid these bills on time and have paid more than just the bare minimum requirement. These documents could suffice for a credit history as it shows a track record of your consumer behaviour, which is what is really being looked for in your records. You could even use the retail cards of convenience stores or supermarkets that you frequent, as it is also proof of your consumer behaviour. Another option you could take is finding credit issuers who are lenient and are willing to allow people with little or no credit history to start an account. Visa and MasterCard are some of those who allow this, and they even have some card services which caters to people with little or no history. Such examples of these card services include UPSide Visa Cards, Capital One cards, and SilverCard Prepaid MasterCards. Use this opportunity to not only get the money and credits you need, but also to start a credit history so you could use it for further reference. In connection to the earlier suggestion, if you are high school or college age then you might have a better time starting a credit account. This is because credit card issuers recognize that this age bracket, though having little or no credit history, have an acceptable financial risk profile to allow them a chance to start an account. If you are indeed within that age bracket, then use this to start a history as soon as possible so you could use it once you have finished school and ready to enter the workforce. Be sure to keep these suggestions in mind and make use of these means to start your own credit history if you lack it. This is so you would not have a hard time again in the future, and you would be able to work your way up in today's society without much trouble. Just be sure to handle your fianc?s and credits while you are at it.

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.
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