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No Credit History.......Trans Union 710, Vantage 695........Don't know what to do?
I do not have a credit card. I do not have any loans. My monthly payments are around $650 and that is it.........Everything is paid for. Problem is I do not have a credit history. I have paid with CASH now for years. I went to one of my banks (bank #2) a couple of years ago (may be 3 yrs now) to take out a small ($1500) loan and I was told I did not have a credit score. He said that after two years of no activity that there is NO score available. I even offered to put up collateral in order to get this small loan. The reason for the loan was to help create a revolving account that I would be paying on monthly and beef up my credit account somewhat. I was disappointed and left shaking my head. I am now paying for my deed of paying eveything off and not using credit. I do not want to purchase anything but only to raise my credit score for those unexpected moments you might need some extra cash. I am 56 yrs. old and have my large jar put away with CASH. I really do NOT trust banks very much anymore since this occured. I am hoping that there will be an easy remedy for this problem. I have spoken to my bank (bank # 1) I use most of the time and they said they were willing to listen to my problem and might could help me somehow. They are like family and they all know me very well. Even the main loan officer knows me personally. Sometimes these sort of things are of no advantage so I am now searching for a solution to this dilemma. It's sad to be "PAYING THE PENALTY" for paying everything off and not oweing money. I made my last revolving account payment almost 9 yrs ago. I've pretty much paid with CASH ever since. I am sure there is something I can do. I am not in anguish over this but I just want to make things better. I am confident you can help............THANKS

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You can start with a secured card

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I'm pretty sure that your bank #1 can help you opening a secured card, i.e. you deposit say $300-$500 in advance, then you use no more than what you deposit and pay what you spend in full every month. That way, every month your bank will report that to the credit bureaus. I don't know what bank #1 is, but normally, a bank can offer you, or you ask for, an upgrade from the secured card to a non-secured one after around 6 months of paying on time in full. Hope its help.

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