Ok, I kinda have "not so good" credit, and I'm in the process of improving it. Now...my year's lease on my apartment is about up, and ...here's the question...
Should I stay here at my current apartment complex to show creditors that I didn't have a problem with this manager here??
OR
Should I move to a new place and get another credit reference under my belt??
I guess it mainly boils down to this...is it better to have one 2 year lease....or two 1 year leases? Blah! I've probably worded this all bad...sowwie!!!
2007-02-14 10:01:36 · 8 answers · asked by Blazzzy 2 in Business & Finance ➔ Credit
Staying in 1 place will benefit you in two ways. To a lender you show stability by staying in one place. The second is that most apartment complexes will check your credit. Credit inquires can have a negative impact on you credit score. Not to mention what if they check your credit, see its not so good, and won't rent to you? I would stay in one place, but you have to do what is best for you.
2007-02-14 11:02:39 · answer #1 · answered by Anonymous · 1⤊ 0⤋
No real difference. If you like your apartment, stay. A credit granting company will ask for your addresses for the last 5-10 years (depending on the nature of the credit - longer for bigger loans)
If you have lived in the same place for 5 years, they don't usually ask for where you lived before that.
No late payments for as long as possible since you "messed up". is what will fix your credit.
If your credit is so screwed you can't get a normal credit card, get a secured card. Use it regularly, but pay it off on time. Eventually you'll be able to get a regular card. Carry small balances, but make your payments on time.
Avoid bankruptcy at all costs.
2007-02-14 10:11:15 · answer #2 · answered by Sam Fisher 3 · 0⤊ 0⤋
Rental history is not on your credit report. It won't make a difference AT ALL in your credit score. If you're thinking on renting for a while I'm sure some landlords like seeing that you stayed somewhere for awhile, but as far as credit-- it doesn't matter.
Since you dont seem to be well informed about credit I reccomend doing some research so you'll learn how to improve your "not so good" credit. There are lots of tips and tricks!
2007-02-14 11:10:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
When I was applying for home loans, I was told that it was good that I had lived in one place for 2+ years and worked at one job for 3+ years.
2007-02-14 10:09:02 · answer #4 · answered by rinkrat 4 · 1⤊ 1⤋
The most important thing is not moving or moving, but making sure that your payments are on time. Also make sure that your utilities are being paid on time and ask your landlord if he is reporting your payments to the credit bureaus. That will help.
2007-02-14 10:05:44 · answer #5 · answered by Akbar B 6 · 0⤊ 1⤋
I'm not positive but I would think its better to stay at one place for 2 years.
2007-02-14 10:10:40 · answer #6 · answered by ChristinaN 2 · 1⤊ 1⤋
your place of residence will not improve your credit score. you will look more stable to the banker that you might stand before. if you truly want to move..go for it.
2007-02-14 10:15:05 · answer #7 · answered by ? 3 · 0⤊ 0⤋
one year less it better if you don,t think you will stay there long.
2007-02-14 10:06:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋