Sunday, 23 May 2010
-
Advice: How Can I Build Credit WITHOUT a Credit Card?
Good credit is always important to have. It determines whether you can get loans, which can be for anything one needs.
Bad credit or no credit = no access to these funds.
To establish credit though, the easier option is to get a credit card.
I would rather not though. My family has had issues with credit cards, and I'm scared I might get into debt.
All that interest turns me off as well. I'd rather use my debit card and know I'm not getting into trouble.
Is there anyway to establish credit that doesn't rely on credit cards?
-
recommend
- recs 0
-
share
-
email
- sent 0
Related Posts
Post a Comment
- Back to dollarish's Dollarish Site!
- Note: your comment will appear in dollarish's local time zone: GMT -05:00 (Eastern Standard - US, Canada)
About the Author
-
- From: Patricia
- About Me: Exeunt, pursued by a Bear - Shakespeare, The Winter's Tale
Stats: This Week All Time Posts: 0 51 Views: 0 40394 Comments: 0 1070 View all posts by Patricia
Comments (4)
You could build credit if you have a student loan from the government and make timely monthly payments on that. However, part of the FICO credit score comes from comparing your debt to credit ratio, so you must have some credit to offset the student debt.
Credit cards aren't all bad though, so long as you pay of the balance in full every month. I know most people don't make that a habit if you only use it for emergencies you should be okay and able to pay it off. Don't be scared of big credit card companies and their interest, there is a way to beat the game. I have 4 credit cards and have always paid my balances in full and have never been charged a dime in finance charges or interest.
as long as you have bills in your name, such as phone bill, cell phone bill..whatever, you build credit that way as well
You must have bills in your name.
A car loan is an excellent way to start off building a credit history. You can normally get a car loan without a credit history. The reason being: If you stop paying on the loan, the REPO MAN collects the goods, and the bank or finance company does not lose.
i give 2 eProps to these comments. i didn't know all this myself