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