What are some different ways (other than a credit card) to gain credit and later a loan?

I know there are options other than credit cards. My friend set up a special chequing account at his bank, and will build enough credit to later get a $10,000 personal loan, where he simply has to put $1000 into a bank account in small chunks (I'm not exactly sure how it works), but I am wondering if this really is an option, and what other options there might be out there? I don't want a credit card. Thanks for your help!|||For a credit card you can check http://creditcard.usavisacard.com for more information. But for a loan other than a credit card to gain credit i found good answer that might can help you "keep steady employment, open a checking account and maintain it well.....if you are able to open a savings account and maintain it [many banks will let you open with a $100.00 startup account and every payday put even $10.00 in it and let it grow......[do not withdraw from savings account...for credit reasons] pay your rent, bills on time....once you have a regular employment history and a checking and savings account for a year....you can apply for a store credit account, or a bank credit card [best to apply with the bank you do business with...] or another way is to build up your savings account up to about a $1,000. and apply to your bank for a personal loan with your savings account as security [ask for half of your balance] or if you need a car for work, etc...save up for a down payment and get a car loan, be sure you can pay all of your bills , rent, car payments and insurance and upkeep of your car good luck"|||That special checking account isn't really building any kind of credit history. It sounds like some special deal with the bank itself. Build a history with the bank and later be more likely to be approved for a loan.





Your credit report and score are based on your history of credit cards and other loans and how you manage those lines of credit. Checking accounts, rent, utilities, and similar bills are not considered extensions of credit and are not reported to the credit bureaus unless you default and the account is turned to collections.|||You can obtain a small loan secured against money you have in the bank. This will build credit. It is also possible to obtain a loan with a high loan to value ratio(50%+ down payment). Back before lenders gave credit to everyone, a large down payment was the standard.|||Home Loans


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