Asked by artis  |  Submitted July 01, 2018

How can someone with a negative account on their credit report and hardly any credit at all begin to build credit?

I am 32 years old and have a bad account form a voluntary car repossession. Other than this, I have no marks (good or bad) on my credit report. I am currently running a small woodworking business and am finding it impossible to get a small personal loan or even a credit card so that I can build some credit. My current credit score is 556.

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  Answers  |  1

July 02, 2018

When building credit, a good starting point may be to start small with a secured credit card or a credit-builder loan. Try your local credit union, which should also be able to give you some options to build your credit.

While you're reading, here are some other informative articles filled with useful tips to improve your credit score:

How to Rebuild Your Credit Score Fast
5 Steps to Rebuild Your Credit
Build your Credit Score with a Secured Credit Card
5 Things Not to Do When Rebuilding Your Credit

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