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Limited or no credit history

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30sClub
Valued Member

Limited or no credit history

Hey community members! What's the best way to get a person into the door on building a credit history? I recall I got into it when I started out in college, however, my spouse doesnt have the fortune of being instantly selected by creditors preying on broke college kids. Although, I wished she did!


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Current Score: 746
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Message 1 of 5
4 REPLIES 4
Shogun
Moderator Emeritus

Re: Limited or no credit history

Secured cards are usually a pretty good starting point.

Starting Score: 504
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Message 2 of 5
30sClub
Valued Member

Re: Limited or no credit history

What is her chances of getting a secured card by herself vs me co-sign for her?


Starting Score: 746
Current Score: 746
Goal Score: 800+


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Message 3 of 5
lavencedora
Frequent Contributor

Re: Limited or no credit history

I agree, secured cards are a good place to start. There are plenty of places you can get one-- many/most banks and credit issuers do offer them.  I highly recommend doing the secured card through a credit union. They are usually easy to deal with. Good luck!


Starting Score: TU 490 on 11/2012
Current Score:6/16/15:EQ 714, EX 704, TU 702 (all from myFICO)
New Goal Score: 740+ for all three
Message 4 of 5
lavencedora
Frequent Contributor

Re: Limited or no credit history

You don't need a co-signer for a secured card, you just have to pay the security money up-front. I've heard of some people getting denied secured cards, but I believe that is rare. If she doesn't have a lot of baddies, and it's just a lack of credit history, she should be able to get one on her own.


Starting Score: TU 490 on 11/2012
Current Score:6/16/15:EQ 714, EX 704, TU 702 (all from myFICO)
New Goal Score: 740+ for all three
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