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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: How to get Credit Cards with no credit histo Date:  10/5/2000  5:14 PM
Author:  jabberwock Number:  46001 of 312161

prasadmv wrote: I have no Credit history as I came to US 3 months back.But I am paying apartment rent and car loan monthly. Will this be added to my credit history. are there any credit unions which give credit cards for people with no credit history.

Seems to me like your car loan would be part of your credit history, and I don't think your rent would be. Why not order your credit report, though, and find out for sure? Contact Equifax, Experian, or Trans Union; you can find out how in the Credit Card FAQ, whose link is on this page.

As for getting a credit card: If you MUST, and you know in your heart you're not going to abuse it and get yourself in financial trouble, you can start out with a secured credit card. You deposit money with a bank, and the bank gives you a credit card with a credit limit up to a certain percentage of what you deposit. The annual fees and interest rate will be exorbitant, but soon enough you should be able to "graduate" to an unsecured card.

But do take a serious look at whether you need a credit card at all. You're in a position right now that many of us on this board work years to achieve!

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