How can we build credit if nobody will give us credit to begin with?
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I asked a similiar question a few weeks ago and everyone said we can not get around gettting a credit card. (We were trying to go about this without getting one)
So we tried a few things. First thing we tried was getting a small personal loan through our bank. It was denied.
Than we finally broke down and applied for a credit card. They also denied us that.
Our credit is a little tinged. His by a 200 dollar medical bill and mine by an outstanding cable bill.
how are we supposed to build better credit if we can't get approved for credit to begin with?
How can we build credit if nobody will give us credit to begin with?Here is the best way and sometimes the only way, open up a bank account, if you already have one all the better, put in as much money as you can spare, $500.00 or $1000.00. Then go to the bank and tell them you want a small loan, but you want to borrow $500.00 against your savings account,they will give it to you in a minute, because for them it is a win win situation, no way for them to lose they have your money. Then in few months pay it back! Then go to your small loan company while your 500 or what ever amount is still in your bank, ask to borrow 200 dollars, they will ask for a reference, give them hour bank that you had a loan for the $500.00 with, they will give you the $200 make sure you pay it all back then you can apply for anything because you have 2 references, only way to start your young and have a long life ahead, now is the time to build your credit, always, always pay on time or early, if you don't you are back to square one! Good Luck!
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