Fox Money, powered by Credible Operations, Inc., offers insights into acquiring loans for those with no credit history, emphasizing the importance of avoiding high-fee, low-amount loans with short repayment terms, such as payday loans. Instead, it suggests personal loans, credit-builder loans, payday alternative loans (PALs), cash advance apps, and "buy now, pay later" services as viable options for affordable borrowing. Key factors to consider include APRs, loan amounts, repayment terms, and whether cosigners are allowed. The article also advises on how to build credit from scratch and addresses FAQs about borrowing with no credit history, presenting various lenders and loans suitable for different credit needs. It is important to compare mandatory and optional fees and to understand the terms and potential impact on credit scores before choosing a loan product.
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