How does a 28yr old with no credit history start establishing a credit history. Applied for 2 cards & denied!?
Applied for two low end cards and was denied. Will someone give me a chance? Don't really want to get a "secured" card
The Answer : You should be a poster child for this topic....I love to read all the answers about the evil of getting credit when you are young.
By the time I was your age, I have a great job. I bought my car in cash, along with everything else. I saved a lot of money, and when I was ready to buy my home, I planned to put down $20k (this was back in 1978 folks!).
I got turned down! Reason? No credit history. Fortunately for me, I had a loan officer who wasn't a complete idiot and could read past the credit reports.
Start by taking kerdog's advice. Get a department store credit card, and a gas card. Use them regularly and pay them off each month.
Go to your bank (credit union is better) and get a small secured loan. Make the payments, and if you can pay it off AFTER 6 months to establish a credit line. If you can afford it and you have the need, do this again! Secured loans look great on your credit.
It's gonna take several months, but you will easily get a good credit rating if you follow these simple steps.
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