im trying to get a motorcycle im 21 have a good paying job but have no credit, i make 17.50 a hr get paid every week so there’s no way i would miss a payment. im just trying to build my credit cn someone help me please.
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✅ Answers
My advice to you: Get yourself a few retail store credit cards, make SMALL purchases & pay them off PRIOR to when the bills come in, only the Minimum if that’s all that you can afford. Than get a Credit Card NOT THROUGH A BANK that offers sky-hign interest rates! (I do not think that you would be eligible anyway, unfortunately, to the lack of credit history) . However there are credit cards that allow you to deposit money right onto the chosen card, do the same; small purchases …….& do the same as I have explained to you above. This will be a start to establishing a credit rating for you – now by the time that the credit starts showing up on your credit history, this should take approximately 4-6 months. Now YOU have your own credit started and do not need a co-signer (Nobody in this world will Ever co-sign Anything for you, unless possibly a Family member?, with a great credit rating). Also, you state that you have a good paying job, if I remember correctly, You have to have a job for at Least a year. – Good Luck. If you do as I have advised; you can also call the three major credit agencies, Trans-Union, Equifax and the other (I do not remember off hand) you can pick up on the internet. After a couple of months call them directly and tell them that you would like to know if your credit is rotating as of yet. You can get a FREE credit report directly through Each credit agency ONLY once a year however. Good Luck to You.
Source(s): Past employment involved doing background checks on individuals – Included credit ratings.
There is no stranger in the world that would cosign for you. Do you realize what being a cosigner means? It means that if, or when, you fail to keep up with payments, they will be held responsible for the money owed.
You are trying to get a motorcycle…that doesn’t sound extremely important. If you do not have a family member who will do it, I can guarantee you are out of luck. Save your money until you have enough to buy your motorcycle.
if you can come up with around a 30 per cent down payment you can probably find a source without a cosigner. you just have to bring the bike to the level where the bank is lending less than it is worth so you will have equity and the bank will not lose money if they have to repo it. also helps if youve been on the job at least a year.
Best cheapest way to establish credit is a secured bank loan pay off over 7 months and repeat. Reality if your great with money and you make that much you could pay cash within 6-7 months
Down payment?
I didn’t hear your down payment amount
You are making 36,4 a year – nicely done.
I’m sure you have some money in savings – I’m sure