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    Piggley Winks's Avatar
    Piggley Winks Posts: 40, Reputation: 1
    Junior Member
    		  
    #1

    Jun 20, 2009, 10:20 AM
    Building up credit without a credit card
    Hi,

    What are the other ways to build up credit other than having a credit card?

    Please help. Thank you!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Jun 20, 2009, 11:35 AM

    Sure, obtaining and paying loans on time; purchasing a house and keeping the mortgage payments up to date; renting and being on time with the rent (and asking your landlord to inform the credit bureau).
    FlyYakker's Avatar
    FlyYakker Posts: 378, Reputation: 41
    Full Member
    		  
    #3

    Jun 20, 2009, 11:38 AM

    Take out a small loan.
    Don't use the money.
    Pay back the loan.
    jenniepepsi's Avatar
    jenniepepsi Posts: 4,042, Reputation: 533
    Ultra Member
    		  
    #4

    Jun 20, 2009, 11:39 AM

    Is taking a loan out and paying the loan back with the loan money allowed? If it is, I may try this. IF I qualify for the loan in the first place!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #5

    Jun 20, 2009, 11:57 AM

    You have to give a reason for the loan and lying is never a good idea. No one will give you a loan to be used to pay back that same loan.

    You might open a small store charge and buy a piece of furniture. After I was divorced I obtained a checking account with direct debit and that was reported to the credit bureaus.
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