How can I get a credit rating? I have none.?
As a child, I was taught that credit was a bad thing, and should never be used. When I married, we bought our house on Land contract rather than a mortgage, and paid it off. I do not drive, but my spouse financed the car through his credit union. When we divorced, as a single parent I could get no credit. Back then they wanted single women to have a co-signer to pay cash! *LOL* Now I am a senior citizen, and need to borrow money to do some major repairs on my home. I own it free and clear. However, I am told that having no credit score is worse than having a bad credit score, and I cannot even get a Home Equity Loan. I am told I should get a credit card and charge small amounts and pay them off monthly to get a credit score, but no one will give me a credit card. Some businesses in my area are no longer accepting checks. They want either cash or a credit card, as they’ve had too many losses on bad checks. Now my social security is direct deposited to my checking account, and as I don’t drive and there is no public transportation here, it is very difficult for me to get to the bank to withdraw cash. I cannot afford the fees to withdraw from an ATM machine. Anyone have any ideas on how I can resolve this impasse?
Dixie Darlin’ I think you mised the point. I can not GET any kind of credit account t o pay off to give me a credit rating. My Social Security Income is less than $ 600.00 per month, so there is no question of my being able to save up $ 300.00 or $ 500.00 or $ 1,000.00 in a savings account to get a Secure card or account to use in building my credit. I thought I could maybe rent something at one of those Rent-A-Center places, expensive as they are, to build my credit, but the weekly payments on the things I need are more than I can afford.