That would allow her to
establish her credit history much earlier.
Not exact matches
As you
establish a better
credit history and borrowing becomes less expensive, borrowing won't hurt you as
much as it once did.
Scion's spot on the list isn't
much of a surprise considering they cater to younger buyers trying to
establish a decent
credit history.
But there's a problem: You haven't
established much of a
credit history.
If you've had
credit problems, or if you haven't yet
established a decent
credit history, you're probably going to be asked to pay a
much higher interest rate than someone with a decent track record.
It is
much easier to get a quick payday loan once you have
established a
credit history with a cash advance lender and your
credit limit might be increased, the next time an emergency cash need arises you will be able to get the cash you need even faster.
With a good
credit score and an
established credit history, life gets
much easier.
For someone with a long, well -
established credit history, these impacts will be minor; however, for someone with little to no
credit history, these factors will make a
much bigger impact.
They are
much more interested in
establishing that repayments are both affordable and reliable, so getting loan approval with poor
credit histories is not such an impossible feat.
However, after checking my
credit report, I realized that having a
credit card for six months wasn't enough for me to
establish much of a
credit history.
That's going to start
establishing a good payment
history — the most important component of your
credit score — as well as a favorable
credit utilization ratio, or how
much of your available
credit you're using.
If Jane had used
credit after her bankruptcy, she would have
established some good
credit history and been rewarded with a
much lower interest rate on her new car loan.
I'd
much prefer to pay with debit / cash, but I got the
credit card (BofA Visa) to
establish some
credit history so that I could be approved for a mortgage.
This helps you
establish your
credit history and ensures that you don't owe as
much once you start repayment since it helps prevent some recapitalization of your interest or the growth of the balance of your debt while you're in school.
If you have 22 or more long term revolving accounts, opening or closing some additional accounts won't have as
much of an impact if you have an
established credit history then if you are just starting out.
In fact, people who do not have
much established credit may even qualify with other sources of payment
history.