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- 2. Get a cosigner with a good credit history;
Since both of you are liable for the loan, please keep the account in good terms. You don’t want to repay your cosigner’s benevolence by ruining their good credit history and your relationship.
Apply for a major credit card of your own, in 6months to a year.
- 3. Apply for a Secured credit card;
These are special cards that require you to make a refundable deposit with the lender in the amount of the cards Available Balance. These cards, which are offered by most major credit card issuers, provide a great way for you to use your own funds to establish a credit history. However, they often carry application fees, annual fees, and higher interest rates.
Use them for six months to a year before applying for a regular credit card. You will need to close the secured credit card in order to obtain your security deposit (plus interest, by some issuers).
Warning! There are many scams out there that prey on desperate applicants by ‘guaranteeing’ instant approval and charging exorbitant fees. To avoid being a victim, apply for a secured card only from a major issuer e.g. CapitalOne. 
- Remember: if it sounds too good to be true, it usually is!     Previous page ...

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