These days, having good credit is less of a suggestion and more of a mandate. Let’s face it, when you have good credit, you have more opportunities. You can lease a nicer apartment and put a downpayment on a newer car. Having good credit also comes in handy when you need to apply for a loan.
So, what do you do when you have bad or no credit history whatsoever? How do you apply for a loan with no credit? Younger people, new immigrants, and anyone afraid of the notion of debt are left wondering how to get a loan with no credit.
Luckily, there are ways you can get a loan with no credit. It is possible and, while it might take some work, the benefits go well beyond getting approved. In fact, some loans that don’t require credit actually provide more options. However, some of these loan types boast more paperwork and require collateral, as a result.
Getting a loan with little or no credit history is more than possible. Furthermore, once you get the loan, you can start building, repairing, or rebuilding your credit history. That will make it easier the next time you need to apply for credit.
How to get a loan with no credit
We will cover a variety of topics as well as applying for a loan or other credit line with no credit. These will include:
- How to apply for a credit card
- How to apply for a personal loan
- How to apply for a car loan
- How to apply for a mortgage