There are some options to start establishing credit:
Open a secured credit card… use it for essentials (grocery and gas), and pay more than the minimum each month (don’t pay it off), and send the payment the day you receive the bill
Borrow with a cosigner
Use nontraditional trade lines to supplement credit reports – cell phone bill, electric bill, car insurance, lease, gas bill.
A combination of these can establish credit for individuals without a credit history, fairly quickly.
KEVIN CADE | MORTGAGE LOAN ORIGINATOR, VP NMLS# 438556
t: 812-349-5972 | c: 812-360-0356 | f: 812-349-5992
Kevin.Cade@oldnational.com
Old National Mortgage
2801 Buick Cadillac Blvd | Bloomington, IN 47401