Having no credit is like being none existent in the U.S. There is no record of how you show the ability to pay creditors back. The only thing attached to your good name is your actual social security number and your driver’s license. We are in a day and age where your credit report and credit score will dictate many choices you or someone else might make. Can you survive with no credit? The answer is yes if you are financially independent.
People and companies that check your credit
• Land Lords
• Employers
• Electric companies
• Phone companies
• Cell phone companies
• Insurance companies
• Cable and internet companies
Needless to say, it looks as if everyone wants to know your credit score. This is all with good reason. Companies are tired of people not paying there bills. So if they find that you don’t show a good credit history, you will more than likely pay higher fees for some of the services mentioned.
If a company finds you to be a big risk, and that would include people with no credit, you might find yourself getting DENIED. This is not a pleasant experience, whether it’s due to a lack of credit history or a history of bad credit. What every your circumstances are you will find that a lack of credit or bad credit is almost the same during this day and age.
There is always a simple solution to getting these types of problems resolved. If you don’t have credit, get your credit established. You can do that fairly quickly by applying for secured credit cards. Typically the current credit scoring system with FICO likes to see a mix of credit.
Example:
• Credit Cards
• Car Loans
• Installment Loans
• Mortgage loans
These are some examples of what determines 10% of your overall credit score. Once you get a couple of secured credit cards with good payment history, you will get all sorts of credit card offers via the mail.
I hope you understand that no credit will cost you. If you have no idea what’s on your credit report, go get a free credit report today. Take control of your credit now.