Introduction to Establishing Credit for the First Time
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You CAN get credit without already having credit. Here are several ways to do it as well as how to keep your credit in good health.
What you will learn
- What Do You Need to Establish Credit for the First Time?
- Your First Credit Card
- Secured Credit Cards
- Getting a Personal Loan if You Have No Credit History
- Keeping Your First Credit in Good Standing
What do you know?
Introduction to Establishing Credit for the First Time
Establishing credit can seem like a catch-22: if you don’t already have it, many places won’t give you any. So how can you even get credit at all? To make matters more challenging, lenders can’t rely on a FICO score for you, since you have no credit.
Lack of credit leads some people to try out options that prove very expensive, such as payday loans. Some of them get trapped in these situations, unaware that with some preparation and discipline, they can qualify for credit and get better lending terms.
There are ways to establish credit without first having credit. Most likely, you are already doing just that in your everyday living. In this tutorial, we will show you ways to establish credit for the first time.