How do I increase my credit rating?

T

thebarret

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Hi guys!

So I have been working now for 4 months, it's my first employment after graduation. I went today to apply for a cellphone contract. I can afford the phone cash but for now it's just too heart-sore to outlay such a huge chunk from my pocket and I don't mind taking a contract. Anyways the lady did a credit check and found out that I don't have a credit rating she did however say that I have good bank statement however they cannot give me the contract. :(

So my question is how do I increase my credit rating. Will taking out a credit card and paying it on time increase my rating? I bank with FNB

Thanks in advance!!
 
I had the same problem I have always paid cash so I had no credit history ,I have my own business and could buy a house cash ,the bank wouldn't even give my a credit card, I had to first get a cheque card then after 5 months change it for a credit card now after that I have a history and can get a home loan .
 
You'll probably need a credit rating before your bank grants you a credit card too, so that's out of the question for now.

Get a store account as suggested, buy a few things, and pay it off on time. That should be enough to get you a cellphone contract in a couple of months...
 
Masterjohn said:
I had the same problem I have always paid cash so I had no credit history ,I have my own business and could buy a house cash ,the bank wouldn't even give my a credit card, I had to first get a cheque card then after 5 months change it for a credit card now after that I have a history and can get a home loan .
Click to expand...

You can buy a house cash?
 
Ya , if I cash in some investments but I wouldn't, paying in off is better just take it on 5 to 10 years and let it pay it self off
 
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