Loans or credit cards for people with NO CREDIT?
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My fiance cannot get a loan or credit card because he has no credit. It's not bad credit, just no credit. We want to build his credit so we can buy a house in the next year. He tried getting a secured credit card, but his name is in the chex systems, which we're still not sure why. We don't want to pay any annual fees, or a monthly fees. I don't care about interest rates because we will pay the credit card off each month. Does anyone know of anything we could do?
Loans or credit cards for people with NO CREDIT?The easiest thing for him to do is if you have good credit or know any close friends ot family members with good credit, to see if your fiance' could be added to a couple of credit cards that are in excellent standing as an authorized user. An additional card wouldn't be necessary, as this would be for reporting purposes only. That way any activity and payment history would show on his report and give him an instant credit history. As for the cell phones, you can have those payments reported as credit as well. PRBC is a credit bureau that reports non traditional monthly payments like rent, utlities, cell phone, etc, and scores it in a report that can be used in conjunction with you traditional credit reports. This is useful if you're going to apply for a home loan. I've supplied the link to the website where it can explain it far better than I ever could!!!!
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