How do I get good credit when no one will lend me money?

My parents never had credit cards and always paid cash. I unfortunately followed their example and pay cash for everything from christmas presents to my house. I have no record of paying off loans on time, so bad credit. Do I need to rent a dump somewhere in the slums, go to college for the card offers or what?

How do I get good credit when no one will lend me money?fha loan

First, you have NO credit, not bad credit.

Second, you need to start small, with a credit card. You may have to get a secured card or you may have to go to a via like Or chard bank or First Premier. Both are good with low/no credit, but you may pay over $100 in fees to get it started, and have a limit of like $250.

After about 6 months of payment history, you%26#039;ll be able to move ot a better card or get store credit cards.

Your other option, since you seem to like cash and financial security instead of debt (Good for you!) is to go to your bank and ask what kind of SECURED loans they offer-- usually if you purchase a $1000 CD, they can hold the CD and then give you a $1000 loan. This way they have their money already if you default. Now you have $1000 to do whatever you want with, and you make small payments each month to the bank. At the end, you get your CD back. They also usually have a similar option for savings accounts, where you deposit the money and they %26#039;freeze%26#039; it while you get a loan against it.

How do I get good credit when no one will lend me money?

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wow that is a really good question i want to know that to|||Try what Amanda H said. That%26#039;s what I did. Took a little while but it helped.|||If you have paid for these things all in cash why do you want a line of credit? Your parents were very smart and it is not a bad thing that you followed their example. If you just want some credit history (not sure why you need it) get a small personal loan and use your house as collateral. Any bank would be happy to do this if you have collateral. By small I mean $1000.00 and pay it back over time. Credit history is just that, HISTORY. I have a friend who is 46 and he is in the same boat. He has always paid with cash only he is worse off than you because he is not a homeowner and to top it off he works for cash/tax free money so there is not even employment records for him. He can only get credit with a co-signer but you have assets to draw from...|||First thing you should do is get a free credit report:

http://www.annualcreditreport.com

Check your scores, and analyze how they are scoring your credit. If you really have no credit, your scores shouldn%26#039;t be low. They would only be low if you had large outstanding debt, late payments, and collections or chareoffs.

I%26#039;m curious if you applied for a credit card or not. You should be able to get a cheap credit card at the very least if you simply don%26#039;t have established credit as opposed to bad credit.

Do you have a checking/saving account? If so, they should be able to add a credit/check card to those accounts.

If you don%26#039;t have one of those accounts, get one!

Start documenting your solid payment history and responsible self immediately!|||Hey, been there! Consider applying for a cash loan from Christian Cash Assistance at http://creditoffernow.com/christian. We鈥檙e here for you when you need us with cash loans from $200 to $1500. You can use the cash for anything. Best of luck!