Comments on: Establishing credit with no credit history

By: Jim

Jim — Mon, 16 Nov 2009 04:15:41 +0000

I filed chap. 7 bankruptcy in 2006, I imediatly started getting new credit card offers. Two years later I got a 200K mortgage. and credit still flows freely, except, I’m more careful now.

By: Erin

Erin — Thu, 12 Nov 2009 18:02:51 +0000

@J- you’d think that, but that’s all that’s on my credit history (new job, graduated recently) and I did pull my credit reports for the 3 major agencies – the accounts are there, and while applying for a mortgage this month they indicated I had a a 790 on what they pulled, and the rates all came in nicely. I have not actually had a credit card of my own yet – I didn’t want to do anything while applying for the mortgage, and will feel okay setting up the accounts I need from here.

By: Rasheeed Willis

Rasheeed Willis — Thu, 12 Nov 2009 02:11:54 +0000

I have no credit. My baby mamma ruined it. Damn Comcast made me pay a 400 deposit to get my cable turned on in my new crib, that aint fair.

By: Wesley

Wesley — Thu, 12 Nov 2009 00:38:26 +0000

I have really bad credit from my student loan issues I had two years ago. Now I find myself unable to even get started back building my credit.
I brought this upon myself not handling my student loans even when I was laid off but there has to be a way to bring my score up right?
If anyone knows how I can do this please help me.

By: J

Wed, 11 Nov 2009 23:49:20 +0000

Visa Debit cards do not effect your credit in any way. Also being an authorized user will not do much if anything for your credt. You ultimately have no reponsibility to make a payment. While it may bump up your score a bank does not look at it as positive credit.

By: Erin

Erin — Wed, 11 Nov 2009 20:44:02 +0000

My parents put me on their card as an “authorized user” for a time. It actually bumped my credit score up a lot. Of course that’s not an option for everyone.
Opening a student checking account with a debit/credit card is also a start. Many are still easily available to students and often have Visa cards tied to them, which help.
They might also check out Costco (an American Express card is tied to membership) or similar easier to get specific cards.
Also, making prompt payments on their school loans whenever applicable will also help a ton.