Absolutely. I would only recommend to do that with a wife/husband or family member that knows what they are getting into.

Remember as a co-signer you are 100% liable for the debt! Be very ... careful.

Having someone co-sign for you is a great idea. This is how I had to start out. Of course, that always isn't an option if you don't know anyone, so could you try and get some store cards instead?

I actually just did this for my wife to help get a better rate on her student loans. In the long run, I expect it to increase my credit score.

I think another way to build credit is to have someone co-sign a loan for you. I've known quite a few people who have done this and have managed to build credit and/or get back on their feet. The trick is finding someone who is willing to take a chance.

Sasha wrote: I request my credit report from all three major bureaus every year. I like using annualcreditreport.com because I can request a free report every year. It is important to monitor what is on your report. Once you get your report, you could also request your credit score, however, there is usually an additional charge for that report.

I used to do this and really should start again. You'd be amazed at the differences in the three reporting agencies.

I would start with a secured card and try to build my credit that way. Good luck!

Short answer yes

Out of curiosity, how does a person with "insufficient credit" build up credit? Would starting with a secured credit card be the best course of action or are there other options?

I agree, you need to get a credit report, even if you have to pay for it. If they are unable to calculate a credit score (which is likely), that is your first step in knowing that you need to begin building up your credit again. Please let us know how this turned out.

Having not used credit since the late 80's, your credit report is likely to say that you have "insufficient credit history" to establish a score. It can be a tough position to be in; I've been there myself.

I agree that it is good to check your credit record. I once had a friend who was being turned down whenever he tried to get credit, turned out he was listed on a report as female. That was enough to raise red flags and make him seem suspicious.

I request my credit report from all three major bureaus every year. I like using annualcreditreport.com because I can request a free report every year. It is important to monitor what is on your report. Once you get your report, you could also request your credit score, however, there is usually an additional charge for that report.

Hello, all. I have not used credit since 1989. I have been living outside of the U.S. all this time and never had any need for credit until now. Does anyone have any idea what my credit score might be and how difficult would it be to get a credit card? Thank you.

Thank you, SAR 1954. I will pursue that course and let the forum know when I find out from the credit bureaus.

I’m sure you may have already thought about this, but the best way to answer that is to request a copy of your credit reports from all three major credit bureaus along with purchasing your credit score from each. We can all speculate on this one, but really that’s the best way to answer your question.

Hello, all. I have not used credit since 1989. I have been living outside of the U.S. all this time and never had any need for credit until now. Does anyone have any idea what my credit score might be and how difficult would it be to get a credit card? Thank you.