| Getting credit with no credit can be | | | | Visa or MasterCard credit card. This type of |
| frustrating. Most creditors will not give | | | | card is fairly easy to obtain for students |
| you a credit card or loan with no past credit | | | | with no credit histories. |
| history. On your first attempt to get credit, | | | | |
| it may seem you have to already have credit | | | | Third, ask a lender whether you may deposit |
| to get credit. Some creditors will look only | | | | funds with a financial institution to serve |
| at your salary and job and the other | | | | as collateral for a credit card; some |
| financial information that you put on the | | | | institutions will issue a secured credit card |
| application. But most also want to know about | | | | with a credit limit usually no greater than |
| your past credit history on how reliable | | | | the amount on deposit. If you take this |
| you've been on repaying past debts. They turn | | | | route, make sure they report to all major |
| to the records kept by credit bureaus or | | | | credit bureaus. Fourth, If you a recent |
| credit-reporting agencies, whose business is | | | | immigrant from another country, you may know |
| to collect, store, and report information | | | | by now that credit histories and scores do |
| about borrowers that is supplied by most | | | | not transfer from country to country. One way |
| lenders. These records include the amount of | | | | to overcome this is to write for a summary of |
| credit you have received and how faithfully | | | | any credit record kept by a credit bureau in |
| you've repaid. | | | | your former country. Ask the bank or |
| | | | department store in your old country for the |
| Here are some helpful tips and advice you can | | | | name of the agency it reports to. Lenders |
| take to begin to build a good credit history | | | | may be willing to recognize your earlier |
| and credit score. First, open a checking | | | | credit history outside of a country if you |
| account or a savings account or both. This is | | | | ask them to do so. Finally, if you don't |
| not included in your credit file but may be | | | | qualify on the basis of your own credit |
| checked to determine you have money and know | | | | standing, offer to have someone cosign your |
| how to manage it. Cancelled personal checks | | | | application. |
| can be used to show that you pay utilities or | | | | |
| rent bills on time each month, a sign of a | | | | The following laws can help you start your |
| responsible person. Second, apply for a | | | | credit history and keep your record accurate. |
| department store credit card. This type of | | | | The EQUAL CREDIT OPPORTUNITY ACT gives women |
| credit card is easier to obtain with no | | | | a way to start their own credit history and |
| credit than a Visa or MasterCard unless you | | | | identity. The FAIR CREDIT REPORTING ACT sets |
| are enrolled in college. If you are a | | | | up a procedure for correcting mistakes on |
| college student, then apply for a student | | | | your credit record. |