I recently tried to buy something on credit for the first time in my life but was refused. They couldn’t explain why but I can only see that its because I have no credit history.
I have no debts and never had a credit card.
How can I get accepted for credit requests?
capital one is an easy qualifier. go online, get the phone #, call them directly and apply for a credit card. done and done
FICO officials answers whether canceling a credit card hurt your credit score?
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Continue reading Does Canceling A Credit Card Hurt Your Credit Score?…
I am 18 and a student, I have applied for student credit cards at seperate times and have been denied because of having no credit history. The cards I am applying for are student cards for limited to no history, I want to know what else I need to do to get a credit card when I have no history. I want to get the card just to use for gas, so I can pay it off each month and slowly build some credit. Please Help!
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – buildcredit.ifastnet.com
If i will let my credit card expire and then decide not to renew it, will it have a negative impact in my credit history/score? is that also the same with requesting for an early termination (closing) of the credit card?
You can’t let your credit card expire, the issuer will automatically send you a new card before the old one expires. Unless you or they cancel the account, it never actually expires. If you close the account, it should be reported as "closed by consumer." This does not directly impact your score. It will impact the average age of your accounts and your credit to debt ratio. Both of these are considered in calculating your score.
If you are looking for the free credit report national site, check out this site
http://free-credit-report-national.com/
Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating for free, fast and secure.
Hope this help,
March 3 (Bloomberg) — Simon Derrick, chief currency strategist at Bank of New York Mellon Corp., talks with Bloomberg’s Judith Bogner about Greece’s debt and deficit cutting measures.
The European Central Bank said Greeces additional deficit-cutting measures announced today will help the country overcome its economic difficulties. (Source: Bloomberg)
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Continue reading Derrick Sees Risk of Greece Hurting German Credit Rating: Video…
I’m 18, and I’m planning on renting a place with my boyfriend and his two friends, who are all 19. None of us have credit cards, therefore we have no credit history. We want to be in a place by this summer.
What can we do to get a credit history?
The place we’re looking at specifically says we need good credit. And it’s a house, not an apartment, because there are no apartments that suit our needs, so I think they’ll be a little wary of renting to under-20’s; the credit report is probably pretty important.
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – freecreditreport.sinfree.net
I’ve been trying to figure out how I can buy or lease a preowned vehicle with my age (20) and credit history. i don’t have have bad credit but not enough credit history; i’ve been denied several times applying for an auto loan through a bank. I have about $700 to put on a down payment. The problem is I don’t have a cosigner with good enough credit that could sign the car loan with me. And i don’t have a car i could trade in or collateral. It’s seems so difficult with me with so many obstacles. How can I make this happen?
You CAN get a decent car loan, even with bad credit. I’ve done it, but you’ll have to look around. That’s one of the BIG mistakes people make…just taking the first offer that’s given to them when they go to the dealer. Be smarter than that.
WARNING: DON’T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It’s a better option, you don’t have to take what they’re offering if you don’t want it, and it’s better than dealing with the car dealer’s people.
There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below…
http://www.axalda.info/bad-credit-car-loans.html
I am planning to buy a house in 6 months but want to refinance my current property right now to get a lower mortgage payment. Would that hurt my credit history, if I do that? Please help…
I don’t think it will hurt, but not sure. On the one hand, getting your current property down lower should help as far as having two mortgages and six months may be enough to offset that. On the other, I’ve heard at least a year to offset points off your credit score – and there will be if you refinance, just for the mortgage company pulling your credit score.
If you want more precise info. than I can give as a layperson, try this link:
http://www.myfreecredittips.com/credittips.php?keyword=YICS
It’s a great free website about improving credit scores and has some great examples on there. Then they also have a link to Equifax credit monitoring – which has a simulator on it that you can enter different things into to see what effect it has on your credit score, and how they diminish/increase over time. You can try the credit monitoring for free for 30 days, or pay (I think about $15 a month) to continue with it.
Good luck! (:
Hi, I turned 18 a while ago and I am interested in getting my first credit card. What is the best credit card for people with little/no credit history? I am looking for one WITHOUT an annual fee. The main things I buy are gasoline and food. Do you guys have any recommendations? What are your personal experiences?
I would offer the following advice to any 18 year old.
Too many people fall into the trap of thinking that a great credit score means they are doing well financially. This is not the case at all. Every factor used to measure a credit score deals with debt. Debt can easily be avoided. Follow this very simple advice and you will win with money.
Save. Save. Save. Put aside 10-15% of your check in a mutual fund. Time is your biggest friend right now. Look at the following chart and see the power of compounding interest. It is absolutely amazing!
http://www.daveramsey.com/etc/cms/index.cfm?intContentId=64
Notice Ben never invested another dime after age 26 and his investment of $40 per week turned into $130,000 at age 38 and over $2 million dollars at age 65! His friend Arthur waited to start saving at age 27 and had to contribute $40 per week the rest of his life and NEVER CAUGHT UP! That’s the power of compounding interest. Time is on your side!!! Save now.
There is also a common sense method to never having a car payment. Watch this video.
http://www.daveramsey.com/etc/cms/index.cfm?intContentId=64
Some people will tell you that you can’t get a home loan with no credit. This is not true either. There are lenders who do automatic underwriting (look at credit score only) and other lenders who do manual underwriting (look at rent history. payment of utility bills, cell phone bills, etc) You can get a mortgage loan without having to worry about building up a credit score. 
To sum it all up, don’t make the same mistakes so many other Americans do!! Save your money, buy things with cash, don’t spend more than you earn. Sounds simple, but it works! Just not many people do it. But millionaires do!!!
Good luck to you friend!
Credit increase by 150 – 200 points in 45 days. This is a proven system that i have researched for 12 months, and used my own funds to enter my clients into the program.
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Continue reading CREDIT SCORE BOOST 150 POINTS IN 45 DAYS.avi…
