Next Credit Building Step?

I have one credit card, that I've had for approx six months. I'm trying to build my credit score. (just started w/ credit, no history other than credit card) I applied for a personal loan through Regions, and was not approved. They told me that I would need a co-signer. Unfortunately, both parties, I depend on are unable to co-sign at the moment. I ran my credit report, and got a score through www.annualcreditreport.com. My score was 637. When I spoke with my bank, they said that I didn't even have a score show up. WHY would this happen? What is the next course of action? I need to build my credit...I'm getting married next year, and we are planning to take out a Medical Loan within the next year. What other options do I have? How are you supposed to build credit when no one trust you?

Next Credit Building Step?

Instead of taking out a medical loan look into care credit. It is a credit card for medical expenses. It has 0% intrest for the first 18 months of any transaction. It can be used for any medical expense and it also can be used at some Vets. This will also help you to build your credit. Also you can try to get a secured loan through the bank. Say you want to purchase something like a lawn mower ask the bank for the the cost of the lawn mower in a loan they will use the lawn mower as collateral. Your credit score is pretty good as it stands now. However, you will find out banks, car dealers, mortgage companies etc all use different ways to obtain credit scores, What you may see as your credit score from one location may not be what these people see,

Next Credit Building Step?

637? wow that pretty good

Next Credit Building Step?

Have you opened a cell phone account? or a land line phone acccount? Are you responsible for any other utilites like gas and electric or water? Do you pay rent? These %26quot;bills%26quot; you pay on time can help increase your credit score. The next thing to do is ask the holder of your credit card to please increase your limit.

Next Credit Building Step?

please visit dave ramsey.com b4 u get sold into debt slavery and the fallacies/myths.

great old fashion option that works = cash.

do not get into the credit game. if u think the housing market is bad - wait till u see the damage done in the credit crash coming.

debt is great way to get divorced.

Next Credit Building Step?

The first thing you should do, if you don't already have one, is open up a bank account in your name. it can be a checking or a savings it doesn't matter which one. It actually counts more for your credit history if you have both but either one generates a positive for you.

As long as you maintain these accounts and keep them positive all is well. now don't go for just any bank either. Shop around and see which one works best for you. Make sure to look and interest rates for the savings accounts and make sure you know any service fees there may be and how much they are.

Knowing those few things can help you easily maintain your account(s) efficiently. A few of the top ranking banks right now are Bank of America, Wachovia and Citi Bank.

Loans, Credit card and bank accounts are not the only things that go on your credit. Your renting history and utility bills also have a place in there too. Your renting history can tell a lender what kind of person you are based on how many places you've lived in the past year.

The renting history's role is basically an indicator of your stability. The utilities are used in the same way. If a lender sees that you owe the electric company money he will perceive you as a high risk because electric is important and if you can't pay that then what will convince him that you will pay him for a car loan.

Credit cards are a good way to start getting credit. The only thing is getting approved as a teenager, you can apply at six different places and may not get approved for any of them, which by the way can hurt your credit. Just remember that if you do get a credit card to manage it properly.

Make sure that you can afford the payments. Also paying the total balance all at once may not be all that good for your credit. If you remember I previously mentioned that companies look at how long you paid over time loyally rather than how quick you pay.

Small loans can help just like a credit card can. You pay them over time so you build a relationship between you and the credit companies or lenders. Generally you need 10% down of the total amount your borrowing to get a loan, plus on top of that you have to get approved. These may be a bit harder to get but will definitely improve your all over score.

Credit is not instant. It takes time and devotion. You should know it will take you at least 6 months to a year before credit agencies will even look at you for a loan.

Just keep it steady and don't go over your budget. The key is to keep all accounts positive and stay within your budget. When applying for credit cards look over the credit card applications carefully and look for any credit card offers companies are offering as a special that will benefit you.

Good Luck!