So, you wanted to apply for a credit card, and you are NOT In debt. Being debt-free is important because, financial stability is key to keep yourself out of series trouble.
So, you tried to sign up for a credit card via a bank of choice, and your application has been declined!
Most likely, you don’t have established credit history just yet. If you were just starting your working hours at highschool. Typically, when you were born, you don’t have a bank account. People who were unbanked are missing out on credit
This is kind of daunting, but there is way to establish credit history. And you don’t need to have a credit pull first.
What I chose to build credit is Self Lender! It’s an online credit-building service that enables me to choose a secured loan, and a term to pay it off. Not just Self Lender is simple; you can make payments higher than a minimum amount. Unlike traditional loans, you pay for a loan first, then you receive your money after that. It’s like a loan in reverse!
With Self Lender; your payment history is reported to major credit platforms. What I use is Experian. Although; each online payment what you make each month is automatically recorded. That makes it easier for me to establish credit independently. Rasing my credit score is key to prepare for financial responsibility.
You can use Self Lender for any of the following:
Build Credit
Building credit is important because, if you have made payments to your Self Lender account, you can watch your credit score go up, as long as you make payments on time. The earlier the payments before a billing period; the high your score goes. You can expect your credit score will go up in a couple of years or so.
This is useful if you want to apply for a credit card later. Practicing paying your bills on time is necessary to tune up your skills when making payments to your credit card in the future.
Rebuild Your Credit History
You can use Self Lender to rebuild your credit history, and retune your responsibility when making payment on time. This is useful if you recently escaped debt successfully, or you are trying to reshape your payment history. In my opinion; debt can get your life in a deep endless shaft with no way out.
In most credit reports; it contains your payment history like morgages, student loans, personal loans, credit cards, and other data. Negative marks are common when you are late for paying your utility bills; credit card bills, and other bills. Reposession is a scary part of your credit report.
Conclusion
I’ve strongly recommended Self Lender because, you can build credit with need a credit pull. You can sign up for Self Lender here.