I was told I do not have a credit score, what does that mean and what should I do about it?
Thank you very much for your patience and asking a question here at my website. I hope you find this information below helpful.
Establishing a good credit history is important in today's society. If we want to buy a house, then it's especially true.
So I guess the question is how can you do so? Well it is a process and takes time.
First you may need to think about applying for a secured credit card. Get a small limit on it say like $300-$500. Use it each month and pay off the entire balance.
Also, you would be wise to have a bank account if you do not have one that is connected to this secured card.
These cards require a security deposit equal to the limit on the card. So if you wanted a limit of $300 then it would require a $300 deposit etc.
As you build credit over several months using this secured card, then you might purchase some small necessary item at a store that issues credit cards. Again, it must be useful and not just to let us go crazy spending money.
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