It's a common paradox: to get financing on good terms you need to show a good credit history, but to have credit history you need to have already had some financial product. If you've never borrowed anything, there are ways to start building that history in a controlled way.
Why having no history at all can also work against you
Contrary to what you might think, having absolutely no credit history isn't always an advantage: some banks interpret a total absence of history as a lack of information about your behavior as a payer, which can lead to some caution when granting financing for a large amount, especially on your first significant application.
Start with low-risk, easy-access products
- A credit card with a low limit, used regularly for expenses you were going to make anyway, always paying off the full balance each month to avoid generating interest.
- A small financing arrangement for an appliance or similar, with low installments and a short term, if you need it anyway.
The goal isn't to take on unnecessary debt, but to build a history of on-time payments with low-amount, low-risk products.
Having your paycheck and regular bills direct-debited also counts
Although it's not a credit product in itself, maintaining a stable relationship with a bank (direct-deposited paycheck, on-time bill payments, some transaction history) generates positive information about your financial behavior, which many lenders take into account when reviewing a financing application, beyond your strictly formal credit history.
Payment discipline is the only thing that truly builds good history
It's not about accumulating many financial products, but about consistently proving you pay what you owe on time. A single well-managed product over an extended period, with no delays at all, builds a stronger history than several products with the occasional payment incident.
Avoid applying for several products in a short period
Every financing application generates an inquiry in credit information systems, and applying for several products within a short timeframe can send a signal of urgent need for cash, rather than a gradual, controlled build-up of your history.
Periodically check that your history is correct
Just as it's recommended to periodically check your CIRBE record, it's worth checking now and then that you don't improperly appear on any default file due to errors unrelated to your actual payment behavior.
Simulate your first financing with reasonable terms
When it's time to apply for your first loan from a given lender, our personal loan calculator helps you estimate a reasonable installment and total cost before comparing offers.