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How to Establish Credit Without a Credit Card

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From Quick Guide: Credit Help

Summary: Credit can be established without a credit card through student loans, or with an asset-based credit card. Find out how auto loans can help a person to establish credit with advice from a registered financial consultant in this free video on money management.

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By Patrick Munro
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Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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Video Transcript

"This is financial adviser Patrick Munro talking about how to establish credit without a credit card. Very few people in America do not have a credit card but those that do not or choose not to have one can still have credit. There are various types of credit that can be expanded. Basically the first one that people come across many times are student loans. Those are granted by federal government agencies and it's a great way to have a credit file started. You can also develop a credit card system without having an actual credit card. It's really a asset based credit card. And you can put your own money into this card. It has a Visa and Mastercard logo on it but really it's your own money that you are spending when you use that card. If you do that in a timely basis the company that is doing that for you will issue their own credit for you. Of course auto loans are another way and it has nothing to do with a credit card and if you are fortunate enough to get an auto loan at a buy here pay here place and then eventually with a major dealer, there is another way for you to develop credit without a credit card. This is financial adviser Patrick Munro."

eHow Article: How to Establish Credit Without a Credit Card

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