If you haven’t already done so, you MUST open a checking account. When creditors are looking at the variables that make an individual a “qualified borrower”, they are looking for a good, steady, established credit history.
A checking account history shows that you have responsibly maintained (hopefully without overdrafting) a checking account, and can be held accountable for maintaining and keeping track of how much money you spend.
It also shows a steady income history, since they can clearly see how long you’ve had an income and have been able to deposit money, write checks, and so on and so forth. Without a checking account or any established credit, ie credit cards and loans in your own name, it can be very difficult to get a car loan or a personal loan, or even a credit card for that matter – at least one that isn’t “secured”.
If you can’t get a checking account, try going to a local retail store and applying for their in store credit card, or even a gas card, which are reportedly fairly easy to get.
This may seem like starting small, but sometimes you have to start small to move on to the bigger leagues of credit – ie buying a house and making major home improvements, small purchase loans , and other larger loans for houselhold items or necessities.