If you don't have good credit, when the time comes that you need money and you apply for a loan - whether it be a home mortgage, credit card, car loan, etc - you'll have a harder time getting your application approved by any lender than if you had a good credit score. If the loan is approved, you'll have to settle for one with higher interest rates and shorter repayment terms.
Good credit score holders get:
There are many requirements to applying for a credit card. The biggest requirement is having a good credit score. Without a good credit score, one cannot get a credit card.
It will be harder to get any loans, credit cards or a mortgage as your credit history has not been good.
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.
No. Having overdraft protection does just that...protects you from having adverse credit and helps you maintain a good relationship with your bank.
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.
It would be better than having bad credit.
some advantages of having good credit is the ability to get more credit. With good credit you are eligible for credit cards, mortgages, and any thing else that requires you to borrow money. With bad credit you can't get loans and you usually pay more for the things you want.
some advantages of having good credit is the ability to get more credit. With good credit you are eligible for credit cards, mortgages, and any thing else that requires you to borrow money. With bad credit you can't get loans and you usually pay more for the things you want.
There are many requirements to applying for a credit card. The biggest requirement is having a good credit score. Without a good credit score, one cannot get a credit card.
Not really, having no credit is just as can be just like having bad credit.
It will be harder to get any loans, credit cards or a mortgage as your credit history has not been good.
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.
No. Having overdraft protection does just that...protects you from having adverse credit and helps you maintain a good relationship with your bank.
Yes, obtaining a deal on a new car is impacted by having good credit. Getting a bargain on a new car depends in part in many cases on obtaining excellent financing. Having good credit lowers the interest rate for new car purchases.
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.
Most likely not. A DUI is not something that a credit reporting bureau has access to. A criminal record does not prevent you from having good credit.
You will need to have good credit. This can be accomplished by not having too many credit cards, paying them off, or at least the minimum balances, and making sure your mortgage payments are on time.