It’s the ultimate catch-22. You need good credit to be approved for a loan or a credit card, but you can’t get good credit without first having a loan or a credit card. This is a frustrating and common problem: one in ten Americans doesn’t have a credit score.
So what’s a person to do? After all, you’ll probably need credit at some point in your life, since the financial world revolves around credit scores. The strength of your credit history is the deciding factor in car loans, mortgages, and qualifying for a credit card. Read on for a few ideas about what to do when you don’t know where to start. Continue reading “How to Establish Credit When You Don’t Have Any”