For young adults, those without credit, immigrants, or anyone with a bad credit history, establishing credit can be difficult. To establish credit, you must have access to credit, but those who have previously struggled with credit may find it difficult to get approved by lenders. In this article, we discuss a few strategies for establishing credit without access to a traditional credit card.
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FAQ
Can I build credit without a credit card?
Additionally, you can establish credit by making on-time payments on all of your bills, including rent, utilities, and loans. After about six months of doing this, your score will usually start to rise; however, the longer you pay on time, the higher your score will rise. Several years may pass before receiving a good or exceptional score.
What is the fastest way to build credit if you have no credit?
Adding yourself as an authorized user on a friend’s or family member’s credit card is one of the quickest and easiest ways to establish credit. You can build your own credit history by building on the credit of the primary account holder as an authorized user.
Which bills build credit?
If your utility, rent, and cell phone payments are reported to the credit bureaus, they can aid in the development of your credit. You can think about using a third-party service to report your payments if some bills aren’t being reported to the credit bureaus.
Read More :
https://www.bankrate.com/personal-finance/credit/how-to-build-credit-without-credit-card/
https://www.lendingtree.com/credit-repair/ways-to-build-credit-without-a-credit-card/