Many of us come across our credit score at some point in our lives. But what about those without credit history? If you have never had a credit card or loan, your credit history is likely to be blank. Moreover, having no credit history means that there is no record of how you might manage debt, so these people can face loan/credit card rejection. A score of 0 in the credit report means that the credit history is unavailable (NA), which means that the credit history is less than 6 months and is not enough to give a credit rating between 300 and 900. But don't be discouraged, because everyone is blank when building a credit score. We bring you some simple methods that can help you get an excellent credit score over time.

Secured Credit Card

A secured credit card has a great possibility, in the absence of a credit history, the lender will not give an unsecured card to you, it is very easy to use without any collateral or guarantee. But don't lose hope, because you have a choice of secured credit cards. That's right! As far as building a credit score is concerned, a guarantee card is an ideal choice. There are many lenders known for providing these cards with fixed deposits of a certain amount. For example, the SBI Unnati Credit Card and ICICI Coral Credit Card with fixed deposit are the few options you can consider.

Bike Loan/Personal Loan

No credit history for bicycle loan/personal loan? Don't worry, because in this case, you can also use the loan to build your credit history. Surprised to see this? Well, you read it right! If you have a salary account, my friend, it can also benefit you. Company payroll account holders have a great chance of obtaining loan approval, even if they do not have an Experian credit score. Yes, based on your past records or good conditions with the bank, you can apply for a bicycle loan or a personal loan . Both loans have flexible tenure options, so they are easy to repay.

Employees of Renowned Companies with Good Income

Employees of well-known companies with good income work in well-known companies and earn good monthly income. Even if the credit score is zero, it is easy to obtain loans or credit cards. Many lenders prefer employees who work for CATA or CATB companies because of its reliability and security in terms of loan and credit card repayment. In fact, many lenders also provide special credits and loans to employees of these companies.

Read here: How To Check and Monitor Your Credit Score

Savings Account Holders

Another great option for savings account holders that can help generate your credit score is in addition to your savings account. Yes, if you are an existing customer of a bank and has a savings account for the past 1 or 2 years, your chances of getting a loan or credit card from the same bank will be higher. In this case, your fruitful relationship and past record will benefit you.

Always remember that building a credit score from scratch does not happen overnight. Have some patience, develop the right strategy and check credit score online to keep a tab on your credit score progress.

Author's Bio: 

I am Ajay Singh, former Finance Advisor with more than 8 years of experience. I am a passionate trader, investment advisor and would love to help people in thier financial decision making.