The only problem is that without credit cards, it’s harder to build up your credit score, which means you’ll have a tougher time qualifying for a loan. Fortunately, there are ways to build up your credit without relying on a credit card. Apply for a secured credit cardOkay, so these are technically credit cards, but they’re also very restrictive, with low credit limits. As with credit builder loans, this type of card requires an up-front deposit that usually matches your credit limit—say, $500. After you use the card for a certain period of time, you’ll get your deposit back and can upgrade to a regular, unsecured credit card (if you want).

Source: The Nation March 31, 2021 15:04 UTC