Get a couple of credit cards, like Chase or Bankamericard. Use it for all purchases and pay off fully each month, which means NO finance charges. In a year you will have a credit record. Doing it with two cards will increase the credit rating. It will cost you no more than using cash, but create "credit rating".
I was my dad's caregiver for the last 12 years , living in his house with him and didn't use any credit for anything . Didn't need to as I like to pay cash for everything . Well that really messed thing's up as I have no credit score now .
I never had bad credit, just never used credit.
Well, dad passed last Oct. and I decided to buy the sibling's out and keep dad's house . I'm putting down at least half the value down so no problem getting a loan RIGHT ? Nope ! WRONG
Even for a VA loan , I was denied as I have no credit score lol.
Even the bank I've used for the last 40 years and have purchased 2 other houses through said no and I have $$$ in their bank that would make others drool .
One person told me that I don't exist because I have no credit score.
So now I'm hunting down a bank that will give me a small loan for maybe 5 years and it's hard to find one.
I could almost pay cash for this house but don't want to break myself doing it ...
I guess my point is that Bad credit is better than having No credit these days...
I really thought this purchase would be a snap , Fooled again