rkrochen
Senior Member
Strongly recommend that. Credit Unions are set up differently and have more lax rules.
Loud POP!
- Thread starter C Body Bob
- Start date
C Body Bob
Old Man with a Hat
Lord no, mid 80s. Have you tried a department store card or say a Home Depot or Wal Mart. I wasn’t trying to tell you what to do only saying what I did. I’m certain things have change plus you are in a different country. Heck they may not have any 500 credit cards any more. It was tough in my day too. I got turned down by several. Discover card angered me & ive never been with them as a result despite the calls they make to me or the applications they have sent over the years. Back in the day a $500 Sears or JC Penny card was fairly easy to get. Today that would be Wal Mart or maybe even Amazon. Good luck to you. I hope you get something soon & I didn’t mean to make you mad
MoPar Maniac
Well-Known Member
When I was a kid I attempted to get a small loan so I could establish credit. They said I didn't need a loan for that amount and denied it.
They then encouraged me to apply for a loan they knew I couldn't afford.
I told em I couldn't afford to bank there any more and closed my account.
They closed many years ago.
+1 on the credit union.
They then encouraged me to apply for a loan they knew I couldn't afford.
I told em I couldn't afford to bank there any more and closed my account.
They closed many years ago.
+1 on the credit union.
rkrochen
Senior Member
The other option you can do is get a prepaid credit card for 500 or 1000 dollars. Use it pay it back immediately. Within a year you will be set.
I have Two credit cards, the issue is the length of time of transaction history, I've really only been using those cards since 2014, so they only have minimal use over 6 years.
So I'm gonna do it the other way, I can swing buying property in cash, I'll do that, now I have my land as collateral to get a loan to build a building, I do that and now I have land with a building that I can use as collateral for a mortgage.
Nick
I don't take no for An answer.
If I stick my head in my *** and look at it their way, I see why their hesitant, why are they going to give a 20-30 year loan to someone who only has a history of paying a loan minimally over 6 years.
They'd rather give it to someone who's been paying a credit card weekly for 12 years.
So I'm gonna do it the other way, I can swing buying property in cash, I'll do that, now I have my land as collateral to get a loan to build a building, I do that and now I have land with a building that I can use as collateral for a mortgage.
Nick
I don't take no for An answer.
If I stick my head in my *** and look at it their way, I see why their hesitant, why are they going to give a 20-30 year loan to someone who only has a history of paying a loan minimally over 6 years.
They'd rather give it to someone who's been paying a credit card weekly for 12 years.
I might he lucky enough to have that deal with the property I'm looking at, saves so much BS and headaches. Good luck, Nick!
polara71
Old Man with a Hat
Most of you know of my plan. Land was more of a difficult pursuit but I had specifics. We found a house on land that fit our specifics, problem solved.
Stay on it Nick!
Newport 66
Old Man with a Hat
That a why I stay local. I'm good friends with a lot of the staff. Heck the president and a number of the board of directors are members of our parish mens club. We've developed our relationships both business and socially over a long time. Many years ago when I got my first loan at another bank and they sold out to a mega-bank, I couldn't borrow a stick of gum....I went across the street ( literally) and have been there since.
i did something similar. i bought a piece of land (owner financing) with an old mobile home. lived there while making improvements to the property. when it was paid for i had more time residing on the property, more credit history and a vastly improved property to use as collateral. the bank was more than happy to lend me money for a new house especially with existing well and septic. built the house 10 feet behind the mobile home, sold the mobile home and moved to the back yard.
commando1
Old Man with a Hat
I got a new house loan when I was 22. A house loan. At 22 yet. 
My oldest son was 20 when he bought his first house. At 34, he just bought his third one. Kept the second one as rental property.I got a new house loan when I was 22. A house loan. At 22 yet.
MarPar
Meat Man with a Hat
I got a new house loan when I was 22. A house loan. At 22 yet.
****, I got a house loan at 23. $25g's down helped a lot. lol
Co-worker bought his first house at 19. Has a few rentals now.
Newport 66
Old Man with a Hat
Hey Scott, thanks for the call it was good to chat and catch up!!! Stay safe!!!
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