Materializing a project, a business idea, or acquiring a good may need a loan and to access this, generally, it is necessary to have a credit history. But if you don’t have it, how do you get a loan without a credit history?
Not all is lost if you still do not have a credit history, what’s more, everything is yet to be built, it is your best opportunity to be visible and build your financial image that, without a doubt, will be your cover letter for the rest of your life, economically speaking.
For everything that is built in life, you have to take the first step. Therefore, if you are between 18 and 24 years old and you fear managing a loan or do not request it because you consider that they will never give it to you, this information may be useful.
We will tell you how to manage your credits and loans even without having a credit history, but we will also tell you why it is important to create it and how to maintain it to make your life project and your dreams come true.
Credits with no credit history
If it is the first time that you are going to apply for a loan, surely you will not be able to start by requesting large amounts of money. Now, believe it or not, it may be that there is information about you in the credit information centers.
Even the best way to build a credit history is by saving. Having a savings account is the first step, and using it constantly allows you to get to know yourself better. In addition, having a cell phone or having had a well-managed educational loan are also points in favor that, even if you don’t know it, are adding to your history.
Credit cards for students or young people are also a strategy that counts as a “biography” within the financial obligations that are acquired. What is important is good payment behavior: small unresolved debts can turn into negative reports that will affect the possibility of larger loans, such as down payments for a motorcycle, car, or apartment.
How to get credit without a credit history?
As we said before, it may be that you already have a history in the credit information centers. However, you can start with low-amount loans, which help you create your credit risk profile, and then you can access larger ones.
Contact a professional, start a study or credit analysis. You are better of starting than with a low credit score
