Best Answer

Not having a credit history is better than having a bad credit history. Bad credit is very bad...

No credit is good.

you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.

User Avatar

Wiki User

โˆ™ 2007-10-25 14:06:21
This answer is:
User Avatar
Study guides

Personal Finance

20 cards

What is rhetorical device

Who was the father of rationalism

What is a cash advance

What is discretionary spending within a budget

See all cards


20 cards

What type of policy is a certainty that the insurance company will have to make payment

What is the purpose of the loans made by the World Bank

What is the main intention of boycotts

How does the WTO promote global free trade

See all cards


21 cards

What does liability insurance cover

How has globalization contributed to the recent increase in international terrorism

Why is globalization potentially damaging to the environment

Why does the growth of international trade lead to a rising global standard of living

See all cards

Add your answer:

Earn +20 pts
Q: Is no credit worse than bad credit?
Write your answer...
Related questions

What is the worst thing about bad credit mortgage?

The worst thing about a bad credit mortgage is the price you have to pay. You get a worse rate and have to pay more for longer than if you have a good credit mortgage.

If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?

When a Canadian moves to the U.S. their credit history in Canada is irrelevant. They will have no credit in the U.S. though, which can be worse than having bad credit. hi

Is there a company that offers payday loans to people with bad credit ratings?

Yes there are companies like this. Keep in mind that you will recive significantly worse interests on your payment than you would without the bad credit rating.

If you have bad credit will the credit card companies take your credit card away?

Yes, but the consequences of having bad credit could be and would be much worse than just losing your card. +++ Primarily, you would find it far harder to obtain credit, including mortgages, in future

What word is worse than bad?


Is bankruptcy or repossession worse for your credit?

Both, Its bad debt period and you will suffer bad with either.

Who was worse than Hitler?

worse at what? He was bad as a dictator, as he did not dictate. He was bad as an artist, at least according to his critics. He was bad as a husband. I do not know how well he played baseball, so i could not comment as to who was worse than him.

Can you get approved for a second mortgage if you have bad credit?

It is very hard to get any kind of mortgage including a second one after you have bad credit and the worse your credit is the harder it gets to get any morgage. There are a few places out there that will give you one but very very few.

What bad things go on your credit history if a vehicle is repossessed?

Slow pay, repo, and it gets worse from there.

Where can one look to find a poor credit mortgage lender who can help regardless of bad credit?

Finding a credit card with a bad credit score can be hard. The more you get refused, the worse your score gets. It is often suggested starting with a secured credit card to improve the score. Secured credit cards can be obtained at American Express and other providers.

Can I obtain a credit card with my bad credit?

Yes you can in fact get a credit card with bad credit. You will have to pay a high interest rate than others because of this though.

What are the reasons in which a person would apply for a subprime mortgage?

Subprime mortgages are for people with lower or worse credit ratings, its more of a second chance than anything. You would apply for one if you have bad credit and need a home loan, it does have higher interest rates though.

Does Prudent Financial in Toronto Ontario offer car loans to people with bad credit?

Possibly. If your credit is really poor, the probably will not allow you to take out a car loan. However, if your credit is fair or a little worse than that, they will, but you will end up having a higher interest rate which translates to a higher monthly payment.

How bad is Facebook?

Real bad. It's even worse than Aids or cancer.

Can you go to jail for not paying back financial aid?

realistically, no they can not. Just horrible credit and a bad life, which is arguably worse than jail, which only hold criminals with 2 or less years to serve.

I want to buy a single house, but I am afair that I am not going to approve for it. I have a bad credit. can you gave me advice ?

You might to find out what your credit score is first through a reputable agency , and if worse comes to worse you could always find a home that is rent to own .

Is having no credit the same as having bad credit?

no, it is a thin file and will show as a 0, bad credit will show a score of 350-less than 600

Do you need to have good credit?

It would be better than having bad credit.

Do worse and worst mean the same thing?

No, worse means.... more bad than the other(ONLY WHEN THERE IS 2 people) worst means....... More bad than the others(WHEN THERE ARE 3 OR MORE PEOPLE)

Is bisexual worse than gay?

What do you mean with worse? I can't see why it would be bad to be gay? You need to learn some.

Is bad credit erased in 7 years?

NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.

Is crack cocaine worse than heroine?

They are both bad -- do not do either.

Can you get a credit card with bad credit?

Yes you can! If you can afford to place a security deposit of $200 or more you can get a secured credit card. You are guaranteed approval for a secured credit card regardless of how bad is your credit and what is your income. There is also a chance that you might be able to get an unsecured credit card, if your credit is closer to fair than bad.

How easy is it to get home equity loans with bad credit?

You can get approved for a home equity loan with bad credit. The equity that is built up in your home, (meaning the home is worth more than you owe on it)the equity becomes your credit, however there is a price for everything in todays society. The interest that you may be approved at is likely to be substantially higher with bad credit than rather if you had good credit.

What credit score is perfect credit and what score is considered bad credit?

Credit score that is around or more than 700 is considered to be good and score below 500 is considered to be bad. It is always advised to constantly monitor your credit score.