How can I Build My Credit if I Don’t Have a Job?

For stay at home parents and other non-working adults, getting a credit card these days can be difficult, however it is very possible.

How can I Build My Credit if I Don't Have a Job?

The federal Credit Card Act of 2009 created limits to access lines of credit. If you do not have an independent source of income (aka a job), it’s may seem near impossible to get a traditional credit card.

At Auto Credit Express, we know how important of a tool credit cards can be to establishing, building and maintaining your credit. That’s why we want to share with you other methods of building your credit that you may find will work in your favor.

Alternative Methods to Establishing & Building Credit

Our number one priority is to help you improve the quality of life for you and your loved ones. Credit is one of the many ways you can provide for your family and yourself.

With these four methods, you’ll find that you may have a way to begin your climb to an excellent credit score.

  1. Become an authorized user on a card
    When you become an authorized user on a spouse’s, partner’s or family member’s credit card, you allow creditors to see that you pay your bills on time. This is also a great method of showing that you can keep your debt-to-credit ratio low too.
  2. Obtain a Store Card
    Store cards are often much easier to apply and be approved for since they have much lower limits than traditional cards do. They can be a great way to get your credit history going when you make on time monthly payments.
  3. Open a Special Financing Loan
    It’s unlikely that you’ll be able to apply for a loan alone. However, the next time you’re applying for auto financing, consider being a co-applicant with whoever is the primary applicant on the loan.
    Not all dealerships are able to offer a good rate with only one person having a credit score. That’s why it’s important to come to dealers like us that specialize in this type of financing. Our quick application is the first step in getting a special finance loan.
  4. Get a secured credit card
    You can open a secured credit card most likely through the bank you already use. When you open one, you are creating your line of credit by depositing it into a savings account. Each month you pay that amount again.
    1. In theory, it works more like a debit card; however, your monthly payments are reported just like a credit card.

      As We See It

      Not having a job is a difficult obstacle to get around; especially when you’re in need of auto financing. When you have credit experts like we have at Auto Credit Express to guide you along the way, you’ll find that the loan you need is attainable. No need to hesitate, apply today!

Posted on July 17, 2014 by in Credit Repair
Reader Comments

Comments are closed.

Apply Online Search