How to build credit with no credit history?

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How to build credit with no credit history?

Postby bgalakazam » Mon Jun 25, 2012 4:32 pm

Funny how I am denied for 6 different credit cards as well as new car financing with a 45% down payment for the same reason: no credit history

So how am I supposed to have credit history since I don't have relatives in the US and nobody can put me as AU.

Just a thought at the completely broken system.

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Postby FastSRT8 » Mon Jun 25, 2012 5:08 pm

Yes... I see your dilemma. Can you perhaps try and get a secured card? That may be one way to build credit.
Carpe diem quam minimum credula postero!

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Postby NYC_Dweller » Mon Jun 25, 2012 5:33 pm

As mentioned a secured card is the way to go. A denial in auto loan may also be a result of the multiple inquiries. Are you a student, new to the US or just trying to establish credit? Give us a little history and we'll try to help you out.

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Postby Snowman » Mon Jun 25, 2012 7:23 pm

Another question I want to ask is are you affiliated with any of the major banks or a CU? I ask because I had went to my local BOFA, and my personal banker helped me get approved for my BOFA Cash Rewards card. It's my only CC (with a 700$ limit), and I do not plan to get one for another 3 years (my credit will be built up by then hopefully) you can try going to your affiliated bank or CU to help you out or talk to your banker.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

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