Sentences with phrase «lack of credit history»

Just because one card rejects you for lack of a credit history doesn't mean they all will.

And just a general lack of credit history (I just haven't borrowed much recently — paid cash for cars, etc).

You will most likely not be able to get a credit card through them because of lack of credit history (unless you are ridiculously rich or go for a secured credit card), but a debit card should be possible.

«The lack of a credit history, or the borrower's decision to not use credit, may not be used as the basis for rejecting the loan application.»

This can be a huge advantage to someone who's never had credit scores due to a lack of credit history.

In fact, HUD prohibits FHA lenders from denying an application based solely on a borrower's lack of credit history.

If you're afraid your not - so - perfect credit or lack of credit history will prevent you from getting a car loan, don't stress about it.

«The lack of a credit history, or the borrower's decision to not use credit, may not be used as the basis for rejecting the loan application.»

Although the practice is controversial, a bad credit history — or lack of credit history — can lower your chances of getting a job for which you otherwise are qualified.

An Alabama regulation in its final stages that would prohibit insurers from considering an individual's lack of credit history.

Unlike normal credit cards, student cards can be quite easy to get when you're in school and have a lack of credit history.

There is one other thing that is important to remember: A lender can not reject your loan application based on your decision not to use credit or a lack of credit history.

For years, the FHA has advertised its products as loans for consumers «on the margins» of homeownership; those with less - than - perfect credit scores, with elevated debt - to - income ratios, or with a lack of credit history.

Without credit, it's unlikely that you'll qualify for a conventional loan or be approved for a credit card, at least not without extreme interest rates attached, or being required to pay a large down payment to compensate for a lack of credit history.

Some borrowers who are in need of a good car loan find that their lack of credit history is a stumbling block to getting behind the wheel of the car they...

This is something of a grey area, since the lack of a credit history is no proof that the borrower is high risk.

The credit card companies said they were rejecting me due to my lack of credit history, but also told me the credit score they received for me was in the 700s.

A poor credit score or the lack of credit history can make it difficult for an individual to obtain a personal loan of any kind because he is deemed a high - risk investment.

If you are in either situation, be wary of ads that promise you «instant credit» or «a major credit card regardless of your lack of credit history or your past credit record.»

There may be reasons other than lack of credit history.

While this is good since you will not have other loan payments to make, this lack of credit history can cause a worry to lenders.

A Federal Housing Administration (FHA) loan is a popular option for home buyers with lower qualifying income, low credit scores or a lack of credit history.

If you have damaged credit or your lack of credit history is affecting your ability to open accounts, look into getting a secured credit card.

The lack of a credit history, excessive personal debt, short - term employment and other more nebulous factors may be the reason for being declined for a credit card.

FHA states that, «Neither the lack of credit history nor the borrower's decision not to use credit may be used as a basis for rejecting the loan application.

A poor credit score, or lack of credit history, can make it difficult to take out a mortgage or even to rent an apartment because lenders will only offer high rates of interest in such circumstances.

But after a chat about the reasons — which I concluded were mainly a lack of credit history — I decided credit was not a reason to turn them down.

One piece of advice for students is to apply for a student credit card because it takes into account the lack of credit history and financial situations that are typical of a college student.

The loans from FHA are good for the borrowers with less than perfect credit rating, lack of credit history or high debt - to - income ratio.

The lack of a credit history, excessive personal debt, short - term employment and other more nebulous factors may be the reason for being dec...

Worse yet, around 33 % of people in this age group do not have any score at all, due to a lack of credit history.

While tweaks to loan guidelines by the FHA, Fannie Mae and Freddie Mac offer opportunities to more borrowers, consumers with more complex financial circumstances or simply a lack of credit history can turn to «nonprime» lenders.

This lack of credit history can also cause bad credit.

This can be good news for borrowers with limited or no credit history as good educational or employment history can supplement a lack of credit history.

Due to most students» lack of credit history, it helps to apply with a cosigner, typically a parent, to increase the likelihood of approval.

Because Jane had avoided all types of credit after her bankruptcy, her credit rating was low due to her lack of credit history.

A low amount of credit accounts equates to a lack of credit history, so owning multiple credit cards helps.

That combined with a lack of a credit history could make it harder to get an apartment and a place for yourself and your family to stay on a permanent basis.

If your bad credit is due to a lack of credit history, consider investing in SelfLender's credit building loan before getting a car loan.

A lack of credit history can make everything from buying cars to renting apartments more difficult.1 So how do you get credit without ever having used credit?

In fact, HUD prohibits FHA lenders from denying an application based solely on a borrower's lack of credit history.

This can be a huge advantage to someone who's never had credit scores due to a lack of credit history.

Although your bad credit or lack of a credit history might impede you from opening a regular free checking account, you still might be able to access a second chance checking account.

Children are also common victims because their lack of credit history makes it unnecessary to review their credit reports, which means that identity theft can go undetected for a long period of time.