Jacksonville FL — Consumer Warrior Clark Howard is back with a look at a new way to help get a new home or car if you don’t have your credit built up. Clark says some companies feel there is enough data out there on people who don’t have traditional credit to see if they are ok for credit based on how they pay their rent or other bills. Those companies will then take a chance and extend credit to people.
Clark says you can typically set up a credit card through one of the alternative methods and then over time you can pay that card which will be reported to the credit bureaus.
“That is the steppingstone to you being able to get the car loan, ultimately get a mortgage”. Clark says.
Clark says overall having these new ways of building credit for people is a good thing since it opens more possibilities for people to have a better life.
Click here for more money-saving advice from Clark Howard.
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