When you apply for a job, the employer does not assure you the job merely by looking at you.There is a multi-level of test in which the employer evaluates your qualification, experience, and skill to see if you costume the job that you have applied for.
The credit assessment system works in an alike. Banks need to evaluate your creditworthiness and reliability. Your past credit history is the only source which banks can use to assess your credit behaviour and decide whether to offer you the credit product or not.
Your credit score is defined by the credit bureaus based on the reporting done by lenders from whom you borrow. The entire process starting from your loan or credit card application to its approval, your repayments/defaults, if any, and till the closure of the loan, the whole thing is reported.
Based on these, an individual is allocated a score that usually range between 300-900.Also,building a credit score takes time;it is not an instantaneous exercise that can see your scores come up.
Even for a new entrant to the credit system, it will take some time of reliable and accountable behaviour to see your credit score move up to a decent number.
All that looks to be fair, but how could one flinch off their credit history. We bring to you selections obtainable for getting a credit card if you do not have a credit history.