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Katerz85

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Apply for Credit Cards, denied due to no Credit File found?
I have 677 EQ, 670EX and 696 TU scores. I've paid off my auto loan 2 years ago and currently do not have any open credit cards or loans. I was trying to get a credit card to build up my credit but each time I apply I get denied due to "no credit found"? Why is that? Any suggestions?

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No active accounts may be the problem.

Since you said all credit cards are paid off and closed and all other loans are completed shows an inactive credit file.  To get things going again, your best option is a secured card.  You'll have to deposit money in the issuer's bank and that will be your credit limit.  The interest will be high, due to no recent history, but that should be no problem providing you keep your usage at or below 20% of the total credit line, and you pay the bill when it comes in.  That way, you don't pay any interest and show responsible usage of the card.  After a while, you will likely be updated to a regular card with a higher credit limit.

Keeping the credit cards (and I, frankly, do not do cards with an annual fee) open and used carefully is the best way to increase your credit score.  Check the credit score simulator on this site an play with it to get more ideas of how to raise your score.

Be certain to make checking your credit reports with all 3 credit bureaus an annual habit so that only the correct information is reported.

Hope this helps.

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