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Without a established credit history lenders have no way of seeing how you have paid your creditors in the past and without that most will not approve a loan of any kind. As far as establishing credit, try a secured card from your local bank, this is where you put up say $500.00 and they give you a credit card with a $500.00 limit. Then just use it for everyday things that you would normally pay cash for and pay it off in full every month before the due date. After 12-months you can most likely get a regular credit card and will have established your credit.

Source(s)

Finance Manager for over 9-years.

by SPIFIMAN1

1 month ago

Asker's Rating: 

you will need to start building credit sooner or later. ask a family member to co-sign on a loan, perhaps for a car. not haveing credit is just as bad as having bad credit. the good news is, it probably wont take as long as you think to get good credit ratings.

by Ray-Ray- 1 month ago

I am in the U.S. but what she told you applies here too. You can establish credit by making any regular monthly payment on something. You can go to a finance company or directly to a lender and try to get a loan. Maybe you can get a secured loan on something you own. 20 pounds per month is not a risk they want to take. You have no guarantee that you will pay them. Do you have an auto loan, or anything with a steady payment record? Installment payments?

by jennifer- 1 month ago

You have no credit that is why

by sunbun- 1 month ago