We found this house we would LOVE to rent
But one of the requirements is to have
: Three verifyable lines of credit.
I dont even know what this means, my husband and
i do not have any credit cards, we have made payments
on rented homes for many years, and have also
made payments on a dining table we own.
The only thing he has that even ressembles a
credit card is a visa check card with his bank.
Please some one explain this to me, we make
incredible money and have great renters history.
Thanks
2006-11-30 15:45:12 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
the payments on the dining table would probably count..anything you are currently paying for or have paid for...payments for a car, gas credit card..even if it's been 5 years and it's paid off. Check cards don't work. I am not sure if rent counts. I think if you were buying a house and making payments on it or had , it would count...I would talk to the landlord and explain the situation..sometimes they can overlook but sometimes not.
2006-11-30 15:50:15 · answer #1 · answered by chilover 7 · 0⤊ 0⤋
You need to pose this question to the landlord or management company. I think most landlords would rent to someone who does not have credit cards, but would require that you do not have any bad marks on your credit.
Please accept this as a lesson. You should have 2 or 3 CREDIT cards from different banks.
With a good credit record, it is easier to buy a car on credit or finance the purchase of a house.
Also you should be aware that credit cards are safer than debit cards or check card. With a debit card or check card your account can be emptied before you know, and will be impossible to get your money back. With a credit card, if there is an unauthorized charge or use, you can question that charge to the bank and the bank can reverse that charge back to the merchant. (Remember you haven't paid for this yet).
2006-11-30 16:10:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
This just means that can you show a history of three separate times when you were required to make payments on a schedule to some business. Utilities, furniture, car payments, rent history, banking history, etc.
2006-11-30 15:50:06 · answer #3 · answered by jack w 6 · 0⤊ 0⤋
Those are three verifiable lines of credit! Also your car payment can be one. Anything company that you have borrowed money from and had to pay back payments is verifiable credit. Verifiable: Something that you can prove.
2006-11-30 15:50:01 · answer #4 · answered by besitos2610 5 · 0⤊ 0⤋
gt a copy of yr credit report
2006-11-30 15:49:22 · answer #5 · answered by ekleinert 3 · 0⤊ 0⤋