When how you qualify for the credit, you have no credit score? Here are the steps you should take.

If you have never taken out a loan or open a credit card, it is possible that you are “invisible credit” – someone with little credit history to generate a credit score. Lenders are less likely to risk giving loans to people with no credit score. This may also affect your ability to rent, and in some cases, in order to get a job.

This is a tricky spot because you need credit to build a credit history, no credit history but are difficult to obtain credit

Understand what you’re building

When consumers try to borrow money, the lender a check with the three credit bureaus of your credit report: Experian, Equif ax, TransUnion. They paid special attention in the past has been how to deal with consumer debt. Your three-digit credit score is an important part of this evaluation.

Credit score ranges from 850, 300 and higher scores are more attractive to lenders. There are several factors to enter the calculation of your score, but the most important is payment history, which makes 35% of your score. When something paid by consumers, credit – including mortgages, car loans, personal loans or credit cards – their payments are reported to credit bureaus, which establish their own payment history

If you do not have a credit score or payment record, lenders do not know what to think. This means that the chances of your fixed loan or a credit card approved are slim. The first step, access to credit, is to be reported to the office Your name periodic payments

Here are six steps you can take to build a healthy credit history – and credit score:

1. Become an authorized user

Become someone else’s credit card authorized user is one of the easiest way to establish credit. Let’s say your parents have a good reputation, and add one of your credit card as an authorized user.

Even if you never collect things on the card, you benefit because they pay each month under your parents with your name reported to the credit bureaus. If you do not do anything – without qualification in its own right card – you can start to buildEstablished a positive credit history.

2. Application For Student Credit Cards

This requires a discipline, but it is worth doing, if you are committed to treat credit cards like a dangerous weapon. If you’re in college, you’ve probably cross mileage, running from the credit card companies.

One use of the offer obtained in the card. But do not use it to run a huge scale, you have to pay interest on a larger amount. Instead, use it to build their credit history.

Once you have it in hand, to buy things. Ideally, what you buy, you’re paying cash anyway – like a meal or a book. As long as you make a purchase, go to the site and pay the credit card balance out all of them.

Do not spend more than you can afford to pay back, you never miss a paymen tons per month. You use each month to pay off credit cards, personal credit report to get a little healthier.

3. Looking for a secured credit card

When you provide a deposit of money, you will spend credit card is safe. It works like this: Suppose you have $ 200 in cash. You pay cash to the credit card company, and in turn, they give you a credit card. However, your credit limit is usually equal to that you have to pledge $ 200. Before  you take out a secured credit card, make sure you pay the company reported all three credit bureaus. Pay off your balance each month by the responsible use of the card, and be careful not to spend more than the amount that you put up.

4. With the landlord to speak

Credit is not the only way you can build all the important payment history. If you rent, your landlord can now report to you monthly payment to the credit bureaus. Over the years, the rent and did not report to the credit agencies, but now, Experian, Equifax company, and TransUnion may include data in their credit scoring models lease payments.

5. Create a budget, fuss

Once you overcome your name to obtain credit First off, it’s time to use it wisely. There is a built in payment history, if it is a bad one does not make sense.

Using the online applicationCreate a budget and check it, it’s like a heat lamp for a newborn chick. Your budget includes not only your money coming in, but it will also remind you that you have due to the debt each month. This is your life to pay in order to establish a positive credit score obligations at all times.

6. Be patient

According to Experian three to six months, there are open and active accounts before you need to calculate the credit score. This can be by learning a few months you can learn to build their own credit and a strong capital base, well spent like a bad your college GPA or ringworm cases, your credit score is to stick with you for the long haul. To work to make sure your show, you are in a good light.