I have NO credit. What now?

[superdave]

I had credit issues about 10 years ago. I paid everything off but I haven't really tried since then to repair my score. My credit report now is blank. My score is 0. Looks like I'm starting over.

I'm 34 years old and I'm returning to school for the next 2 years. I would like to have my credit back in shape by the time I graduate, or soon after. I won't have any income during that time, but I do have $.

From what I've read the course I need to take is:
Open a student credit card, or secured if necessary. Don't charge more than 30% of the limit, and pay off every month on time, not early. Maybe even 2 cards.

Open a secured loan from a credit union, to have balance in debt types.
Again pay on time. I guess I just have to figure that the interest that I pay is just a necessary evil to accomplish my goal.

I wish I had someone who's card I could be authorized on to piggy back on their credit, but I just don't have anyone I can do that with.

Am I heading in the right direction?
Any additional suggestions?

Thank you

[chane]

I believe you are on the right track. Your game plan is solid. It's good to see someone that has done his homework.

[superdave]

I will be renting in the near future so I will contact rent reporters then. Thank you.

Not that you can really know, but what kind of score can I realistically expect in 2 years? 500's? 600's? I just want to start making some long term plans and dont want to over/under estimate.

[chane]

With only a few positive accounts reporting and no negatives, you could have scores of 600-700. I see scores in that range all the time with only 2-3 positive accounts (with no negatives).

By negatives, I mean even late payments. If you are late over 30 days even one time, it can turn the account negative. The best thing to do is avoid being over 30 days late at all costs. But, if it does happen, there are many ways to get it taken off.