Surviving without a record in your name

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Credit Card Applications » Research » Guides » Building Credit History » Surviving without a record in your name

Surviving without a record in your name


Updated: April 8, 2013

The content is accurate at the time of publication and is subject to change.

If you are one of the people who do not have a credit history currently, there is no reason to worry. Currently, there are a lot of individuals that fall in the category of no credit history. It is important to understand how to rectify this problem, so that you don't have any issues at a later stage. In fact, not having any kind of credit history, is something that almost all of the people entering newly to the country, end up facing. Hence, it is not a big problem to be worried about, and can be fixed easily.

Working on establishing yourself

One of the most important things that you can do today, is to work towards ensuring that you have a decent credit record, and are able to show that you can in fact manage to save money, and work towards developing a decent credit history. The problem with no credit history is that, you will have to work harder to show that you are capable of managing your finances, and are not reckless when it comes to spending or even paying back debts.

Opening accounts in your name

One of the other things that can be attributed to no credit history, would probably have to, a bank account or some kind of financial account that can be associated with your name. In this way, you can be rest assured, that you are not going to end up spending a lot of time, trying to establish your creditworthiness, as your bank accounts will pretty much end up proving it on your behalf. Credit card companies and other financial institutions will look at this information before approving you for a loan.

Paying back debts on time

Since you don't have credit history, this is a good time to work towards a really good credit score. In fact, you should strive to pay your debts back on time, and ensure that you don't have any kind of outstanding payments. If you continue to make payments on time, there is nothing much to be concerned about; you should be able to get a no credit history problem, a thing of the past. Timely payments are one of the fastest ways of establishing a credit score. You should think more about this, if you haven't considered it already.

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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