It’s weird to me. I recently applied for a bunch of rentals and my lack of credit has been the main thing holding me back. I have resolved to get a secured credit card but like how tf do people usually build credit anyway? I got denied by several other credit cards.
I also tried to apply for a loan earlier last year for a tow behind camper and even with 10k down on a 16k camper they said no. It’s like they can’t comprehend what I mean when I said I don’t have a credit score…it’s not a bad credit score….it’s that I have literally zero history. I’ve paid for everything in full including my car and the travel trailer that I ended up buying and yet I’m punished for it.
Anyways, how do most people get their name in the system? Is it always with a secured credit card?
In: Economics
Set up an account with a credit union and put some money in. Get a secured credit card, which will have a low limit and low interest. Your account can’t go below some percentage of the limit on the card (mine long ago was 75%). Use the credit card instead of the bank card for a certain purchase every month, like car insurance or streaming services, and pay the bill when it comes due. Otherwise pretend the card doesn’t exist. This will build credit without costing your anything.
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