How to build credit

[bigred78]

Hi everyone!

I need to start building my credit and I’m really struggling. I have absolutely 0 credit.

I don’t know where to start because I can’t apply for a credit card, TFG or clothing account. So how would I start? What’s the best account/option as I’ve tried a few places and I’ve been declined from them all

I’m in my early 20’s with a permanent, decent paying job(2 years). My husband has pretty good credit and all our accounts are on his name, but I also need credit too.

Where do I start?

 

[resjudicata]

@bigred78 Apply instore and not online. People without credit score make the mistake of applying online and that will always mean your applications will get declined.

Apply in person so when the application gets declined you ask them to send it in for review, this is when an actual human will look at your documents and approve you manually instead of online where the system is designed to reject any applicants who don’t have sufficient credit score.

 

[bigred78]

@resjudicata I see, that makes sense. I will try that, thank you

 

[jkcuster]

@bigred78 Get a small cell/data contract , then after a couple months you should be able to get a clothing account.

 

[daicker]

@bigred78 I had a student cc with absa when I was 20.

R200 only limit. Keep using it and paying back. It built my credit record. Have to be a student though

 

[malvina]

@bigred78 If you've got a good salary, Discovery might be worth a try, but check the probability on Clearscore first. They gave me a credit card with only one salary in the bank.

 

[yobdas]

@malvina They gave me one with only a signed contract

 

[booneville701]

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This post was mass deleted and anonymized with Redact

 

[fallior]

@bigred78 I'm just starting to build my credit score, I applied for a Mr price store card. I had to credit score before that and earn minimum wage, due to bouncing jobs every year or so, while studying. They approved my application with a R450 store credit. It isn't much but eventually it'll add up

 

[martijnnl]

@fallior But it stops going up if you have used for like 6 monthsI was using the mr price store card and I’m thinking of adding the tfg account but I don’t want to run too much debt.

 

[fallior]

@martijnnl What do you mean it stops after 6 months? Do you mean it cancels after 6 months of inactivity, or that it stops adding to your credit score after 6 months? I'm asking as my account is currently only about 3 months old

 

[martijnnl]

@fallior Apparently it’s not enough credit

 

[fallior]

@martijnnl Damn, ok... That's good to know before going and taking on more debt

 

[martijnnl]

@fallior It might be different for you though

 

[martijnnl]

@fallior It stops adding to your credit score.

 

[hazrus]

@bigred78 Have a look at Truworths Pay3 account. It is a low risk pay in 3 installments account. It is seen as trial credit so should help build some credit towards a better account/credit

 

[fbxlthtn59]

@bigred78 Might want credit, or think u need it, it will be the bane of your existence

It will end all of us...

 

[scottmaciver]

@bigred78 Try getting a credit card with discovery, get 2k credit, use it every month and pay back the full 2k every month. This will help your score go up.

 

[catdawgkimberly]

@bigred78 Try woolworths credit

 

[cff13]

@bigred78 TFG WOULD LIKE TO KNOW YOUR LOCATION