- How It Works|
- FAQs|
- Help
- Log In to your account |
- Sign up now for free!
Credit Advice
Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!
Question
Share this question with others:
I have no credit. How do I start to build my credit if no one will approve me for a line of credit?
Asked by
AppleRules
1 year ago
Flag this Question
Best Response
What’s been voted most helpful!
The best route for first-time credit users to build credit is with a secured credit card. Secured credit cards are similar to credit cards except they require a security deposit from the cardholder, and are effective at building good credit history because they have guaranteed approval and the security deposit guards against potential defaults. This means no late or missed payments to blemish your credit. However, the downside is the high costs, such as the security deposit (usually at least $200) and hefty initial and annual fees. Once you are approved, be sure to build good credit with responsible credit use and on-time payments; make it simple by using your card once a month for a small transaction, making sure to pay off your balance in full every month to avoid debt.
hardeight 1 year ago
1 response
- Prev
- 1
Reply To This Question
The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.
Let the community lend a hand!
3 Most Recent Questions in Credit Scores
How long does it take for hard inquiries to be taken off my report
2 Responses
Asked by wcjones25
under Credit Scores
Will paying a medical collection account help my score?
0 Responses
Asked by blautner
under Credit Scores
Credit Card Offers Just For You
These are the most popular credit card offers from Credit Karma members with credit similar to yours.
Orchard Bank Visa Cards
- Acceptance at millions of locations including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
Capital One® Secured Mastercard®
- Get the credit you need with no processing fees or application fees
- Automatic reporting to the 3 major credit bureaus
- Track credit with access to your credit score and other tools
Copyright© 2007-2012 Credit Karma™, Inc. Credit Karma is a registered trademark of Credit Karma, Inc. All Rights Reserved. Product name, logo, brands, and other trademarks featured or referred to within Credit Karma are the property of their respective trademark holders. This site may be compensated through third party advertisers.
The best route for first-time credit users to build credit is with a secured credit card. Secured credit cards are similar to credit cards except they require a security deposit from the cardholder, and are effective at building good credit history because they have guaranteed approval and the security deposit guards against potential defaults. This means no late or missed payments to blemish your credit. However, the downside is the high costs, such as the security deposit (usually at least $200) and hefty initial and annual fees. Once you are approved, be sure to build good credit with responsible credit use and on-time payments; make it simple by using your card once a month for a small transaction, making sure to pay off your balance in full every month to avoid debt.
hardeight 1 year ago