Want to start building some good credit.?

What are some good credit cards for people wit no credit? and want to establish some credit.

And now for the REAL answer.

1. Open a checking account- While opening the account doesn't directly build your credit, it does create a relationship between you and the bank by being an accountholder. Banks love to cater to their preferred customers that have accounts in great standing by offering loans and credit cards. Also, having a checking account not only helps manage your money, but it gives you the most powerful tool in building credit, a checking account to help pay your bills on time. Most banks and credit unions offer online banking with billpay that can make it easy for you to pay your bills on time, which is important in building credit.

2. Open a secured credit card- Secured credit cards are the easiest credit cards to get, mainly becuase a security deposit is placed upfront in order to establish a line of credit in the same amount. For example, if you deposit $250, your credit limit is $250, and so on. The deposit isn't used to pay for any of the purchsases on the card unless, it was charged off and sent to collections, so you would have to repay it just like a regular card either in full or minimum monthly payments. The deposit is sometimes linked to a savings account, so it earns interest while you're building credit, so the deposit isn't sitting there. You can think of this as building credit with a savings account. The more you deposit, the higher your limit, which is good for your score because it creates a cushion between the total debt you owe and the credit you have available. Also, by continuing to add to the deposit, you're also creating an emergency fund at the same time. A good way of using the card is by making small purchases ($20/month max) and paying on time every month while adding to the deposit. Usually after a year or so, the card either converts or upgrades to a regular card, and most importantly, the deposit is given back, which you can place in a savings account as an emergency fund.

3. Enroll with PRBC- PRBC is America's Alternative Credit Bureau, providing a helpful service to the over 50 million people with limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:

Rent
Cable
Phone
Daycare
Insurance
Electric
Natural Gas
Cell Phone

The only time your payments for these bills are reported to the other credit bureaus is if they're missing or late.With PRBC, your on-time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC offers two simple ways to start building credit today.

These are just a few tips that I know will help you out.

Get a credit card, use it on small things like food shopping, but pay it off instantly...repeat for a few months and your credit rating will go through the roof

You should try to get a secured credit card. My boyfriend did not have any credit as well so he went to Orchard Bank (online). Basically you give them your money ($200) and you use it. You pay it on time and they report to the credit bureau every month. If you pay on time every month they even give you money.

A good way to get a chunk of credit on your side is too get someone to co-sign for you on car. A person that trusts your integrity for who you are.

My Father co-signed for me a Truck back in 1977. I made all the payments on time and never missed a payment.
After that I was home free.

I co-signed for my son and he failed me after six months and guess who pays for his Truck today...that's right me and the reason is because I am saving his credit and mine.

I have two payments left and then he can go on with his life, but I will never co-sign again.

He already has two credit cards.

Credit is good to have, but you need big credit and so you need to buy a Car because that's one big huge chunk of credit.

Something with a low limit. Start at your local banks (i like credit unions). Make sure you are not paying more than 17%. Don't get a store cards. For example a Macy's card. The interest is usually 20-30%. Student loans do nothing to build credit by the way. Car loans are the ideal way to go. And NEVER pay late! It is the fastest way to screw your credit up!

Also you will need 2 credit trades for 2 years before banks will consider you to have substantial credit and again student loans don't count.

Gasoline Credit Cards are often easy to get.

Your best bet is to go with a student credit card if you are eligible. They usually have low interest rates, no annual fees, no application fees, and/or some type of incentive (cash back...etc). The best place I have found to compare credit cards is www.bankrate.com. They have questionnaires that will help you pick the card that will best suit you. If you think that you have absolutely no hope of being approved for an unsecured card, go secured. You have to do your homework of course or you may get stuck with a very bum deal. I do recommend that you stay away from Applied Card Bank and Household Bank. They both, in my experience, charge large annual fees. Good Luck!!

There are NO GOOD credit cards. The interest alone on CC for new clients is a minimum of 20% to 40%. Besides most of those CC require a "deposit" which is usually $500 to $1000 and that's the cap of your credit limit.

Also, most require an application FEE which they charge to your CC immediately (oops there goes some credit used without you raising a finger) and an annual FEE between $20 to $90 annually.

So if you want to establish credit go buy something on installments. Make your payments religiously on time. Pay the debt off. Then go make another purchase on installments, etc. Once you have done this 6 or 7 times within 2 years, you would have shown to lenders, including CC banks, that you pay your bills on time. Now the CC banks will herd to your door offering you CC without FEEs of any kind.

But still, if you need to USE plastic, you probably don't need that item. Save for it. Get a DEBIT card so you don't carry CASH on you and live credit free. It took me 7 years but I did it. I now have ample money in my savings account and CD's to buy most of what I need. I have 14 credit cards with limits totally over $20,000 which I WILL NOT use because I would be paying them high interest rates. However, I have the cards only to make me feel good. Oh, by the way, none of those cards charged me a FEE to get nor a FEE to keep. Best of both worlds.

Good luck and DON'T DO PLASTIC. It can ruin your credit quicker than anything else. SAVE, SAVE, SAVE then you can BUY BUY BUY without interest.

If you have a business and want to use a credit card for it here's for you:
http://www.businesscreditcardsite.com/credit-cards/
but
if you want for your own use here:
http://www.rewardcreditcardsite.com .

Hope this helps! Good luck. :)

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