xvagal62, Other/Just Looking in 27526

My husband and I are looking to purchase a house within the next 9 months. We have enough income to qualify, but the issue is I don't have any credit.

Asked by xvagal62, 27526 Wed Oct 31, 2012

For the past 10 years I have paid cash for everything, although we just recently bought a new car in both our names. I tried applying for a credit card, but was turned down because of the lack of credit. Any advice would be appreciated.

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Andy Matejka, Mortgage Broker Or Lender, Greensboro, NC
Wed Oct 31, 2012
Apply for a Secured Credit Card(s) if you are not able to receive a traditional banks' Visa or Master Card. They would charge an application fee and require your funds deposited. Use it sparingly each month but pay the bills on time and you will be fine.

Did you obtain an Auto loan? You might try a Kohl's Card, JC Penny, Sears as well.

I encourage at least 2 open active trade lines and do it pronto so that in 9 months you will at least have 6 months history reporting to all 3 bureaus.

Be sure any new account reports to ALL 3 Bureaus.
1 vote
Krista Abshu…, Agent, Fuquay Varina, NC
Mon Jan 21, 2013
Well, its been almost 4 months since you posted your question and I hope everything is going great for you.

If you happend to still be having any problems I recommend contact Jeff and Michelle Harris at Revital Credit. They are wonderful to work with and I have seen them help clients establish credit. I know they would be able to have some great recommendations for you.

Best of luck and feel free to reach out to me if you would like their contact information.

0 votes
Cynthia Quar…, Agent, Cary, NC
Wed Oct 31, 2012
Contact Barb Multari at New American Mortgage. She loan officer that has connections to a great credit repair company. Tell Barb Cynthia Quarantello sent you. Her number is 919-244-5656 If you would like to view Holly Springs homes while you getting your credit in order you can go to my website http://www.HomeSellerNC.com. Hang in there.... Home ownership is on your horizon and Holly Springs is a great place to live!
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Wed Oct 31, 2012
It's ironic but paying cash for everything (also known as living within your means) is actually a negative when it comes to credit and as you can now see can in fact create problems when you do want some credit.

My suggestion is to speak directly with your current bank about getting a Visa/Mastercard from them that could either be a true credit card or a debit card either is fine,. I believe using this for the next six months in conjunction with your car note and any utility bills you have in your name should be enough to establish a credit score for you.

I wish you nothing but the best.
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