Do you have a “thin credit file”? If you do, you’re one of the 25% of Americans who have little or no credit history and don’t use credit enough to build a sufficient FICO credit score. Since having “good credit” (and a good FICO score) is extremely helpful in many ways financially, we decided to put together a blog today to help people who want to start building their credit but either don’t want to or simply can’t get a credit card.
Indeed, there are quite a few ways to build up your credit that don’t require you to have a credit card at all, including credit builder loans, alternative credit scores and Passbook or CD loans.… Read the rest