What is involved in a credit check?

Question

I have to go through a credit check in order to rent an apartment, but I don't think I really have a credit history--good or bad. My parents helped me pay for undergrad. tuition and rent, and I don't even have a credit card, though I do have a debit card. Is a lack of history bad?

What is the government website where you can get it for free?

Answer 1

A lack of credit is not a bad thing. When you do get credit, make sure you keep it in good standing to always have and secure good credit. A credit check for an apartment is just making sure that you are credit worthy. You should be fine. Worse case is that you might need to have a co-signer. But if were able to get a checking account and have a debit card, that is a good thing. You probably don't realize it, but the banks normally pull your credit before they give you an account. I would not worry too much about this, but you should be in good shape. Best of luck to you.

Answer 2

ALL ANSWERS HERE ARE PRETTY GOOD BUT...
As a licensed real estate broker I can tell yell that we have relationships with many landlords. Many times we run the credit checks for the landlords. I can tell you that every one who runs credit checks all run in for different reasons. Some companies run your credit before they hire you. They do this to verify you address history and employment history. They also do it to see how responsible you are.
BUT IN YOUR SITUATION ...
The 2 most important things that landlords look for are:
1. To see how long (if any) you've been on bankruptcy.
2. Landlords have a special tie with a credit search company in that the search company also look for any landlord court issues regarding not payment of rent.
ANYTHING ELSE IS SECONDARY...
Such as verification of address and employment history.

I assure you that they are NOT looking for any open trade line and they could care less about your credit score. Can you imagine how many people would be denied a place to live because of their credit score? or if they had a credit card or not?

They are simply looking for responsible people preferable over 21 with stable employment and an income where they can afford the rent.

Tips for looking for an apartment to rent:
- DRESS WELL
Landlords a quick to judge based on what your wearing
- BE PATIENT
If you become ansy they could jump to conclusions about how you would react waiting for the super/plumber to arrive to unclog your toilet
- DONT TAKE NOISY CHILDREN TO AN APARTMENT SEARCH
They will assume that jumping and other nuisance behavior can be expected
- A SINGLE WOMAN WITH VERY YOUNG CHILDREN GIVE OFF A NEGATIVE VIBE TO LANDLORDS
They will assume that you wont be able to afford baby sitting and the rent will be backed up. They will also assume that you may prefer to stay home and get an "at home job" therefore sonsuming excess water, energy, and other house/building resources while they prefer peace and quiet during regular business hours.
- BE READY TO MOVE
Landlords dont want to waste time with a client whose looking to move in a few months. Start looking at apartment if your planning to move in within the next 7-45 days. Carry your necessary documentation and your check book with you.

GOOD LUCK

Answer 3

credit check for your situation basically looks at your timely payments, residence, employment locations and tradelines. since you don't really have anything, it might not turn out the way you want and most likely will need your parents to cosign the lease. if you're unwilling to use a credit card, get a cell phone. I work in mortgages and sometimes a cell phone bill that shows on time payments can be used to show some form of credit worthiness, lots of utility companies do it as well. nonexistent credit is dangerous to creditors. since you're not applying for a credit card, the leasing company may be lenient in your case since you're young. to build up credit though, credit card is the quickest way. get one, if you haven't already, and just use it for gas and groceries. pay it off every month and your credit will be well established. no credit is the same as bad credit. bad credit just shows you're horrible with making payments on time, no credit draws ??? from those checking. you're a wild card and a risk. since you're in credit limbo right now, I'd suggest you head up since it's very easy for you to do so.

Answer 4

lack of history is sometimes just as bad as bad history... get a credit card and put small amounts on it.. and just pay it off every month. That will do wonders. also, you can get your credit score for free through a government website

Answer 5

A credit check involves making sure your ssn matches your name and birth date. Checks on previous places of residence and checks on utilities you used such as the phone company if you had accounts in your name. Checks also involve the places you worked at before, bank accounts you have, credit cards. loans or student loans. If you do not have that much credit, creditor sometimes ask you to apply for credit, but don't overdue it.

Answer 6

Visit Annual Credit Report. I don't know about Experian and Equifax, but Trans Union gives an instant report and score...for $5.95 by credit card.

Answer 7

Having a checking account will help. Any kind of employment is also a bonus, especially long periods with the same employer.

Answer 8

Looking for an answer on this too

Answer 9

Thankyou for all the answers.