No Credit? Here Are Easy Ways You Can Build Credit

Are you someone who has not established credit yet? Are you
being denied the same access to credit cards, loans and
other credit ways simply because your credit score is too
low from not having enough credit or no credit  at all.
Don't fret, because help is on the way!

If you are planning on getting a personal loan, owning a
car, having a home of your own, working in a bank or
finally acquiring the furniture you've been longing for a
long time then establishing a credit is the answer.

Here are a few ways you can start building up your credit
report and get on the road to good credit!

- Start to apply for a guaranteed approval credit card that
reports to the credit bureaus. Take your time and always
read the fine print in order for you to find the best deal
for yourself.  These cards are similar to debit cards but
they have the Visa or Mastercard logo on them and they
report to the credit bureaus.

- Another option might be to check if the lending
institution of your choice has a secured credit card being
offered. The interest may be higher but you may be able to
upgrade  to an unsecured card within 12 months if you
maintain your payments on time.

- Another type of credit card with easy approval
requirements is the merchandise credit cards and department
store credit cards.  These are an excellent source to start
to establish a line of credit. Make sure it's a store where
you can purchase a lot of your shopping needs. This way,
you don't need to apply for a multiple cards at once which
can be seen as a negative on your credit report.  One word
of caution.  Department store credit cards tend to have
high interest rates, many of their interest rates start at
15%.  So keep an eye on your balance and try to pay as much
as you can each month.  NEVER make just the minimum
payment, especially on a department store credit card.

- Don't forget to fill up any application for a loan or
credit card completely. If something doesn't apply put N/A
on that line. Include your checking and savings accounts
and any accounts you pay for on a monthly basis even if
they do not appear on your credit report. If they do not
appear on your credit report, please make sure you include
a way for your prospective lender to contact them for a
trade reference.

If you are thinking about applying for a car loan, it's
good to do research on the dealership or car lot where you
want to make the purchase. Most dealers will provide a
source of financing. Some may carry their own loan and
payment plans. Be on the lookout though and read contract
carefully if you don't want to get stuck with an interest
rate that is through the roof. This venture is where a good
cosigner may come into play.

Use these tips to help jumpstart your credit history and
get approved for the credit that you deserve!
Copyright (c) 2006 Liz Roberts

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Liz Roberts is consultant with NewHorizon Finance & has
been providing consumers & business owners with financing
since 1989. For a list of the credit cards mentioned on
this page please visit
http://www.newhorizon.org/Info/creditbuilders.htm if you
are just seeking bad credit unsecured credit cards visit
this page http://www.newhorizon.org/I