I'm 19 years old and I want to get an appartment. I have no credit in my name what so ever from what I know of. Was just curious if it's bad to not have any credit at all...
2007-03-03 18:42:56 · 7 answers · asked by _bucko 1 in Business & Finance ➔ Renting & Real Estate
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-03-06 01:05:13 · answer #1 · answered by gabriel jones 4 · 0⤊ 1⤋
It's not bad necessarily, it just is going to be hard to get anything. The tough thing about credit is that you'll have a hard time getting getting credit without having established credit, and you can't establish credit without getting credit. But to rent an apartment shouldn't be hard. If you make enough money that is usually enough. You may have to put a big down payment down. (You should open a credit card or buy something on credit, by the way, to start establishing, later in life when you want to buy a house, car, etc., no one will loan you money with no credit to your name)
2007-03-03 18:50:29 · answer #2 · answered by s 3 · 2⤊ 0⤋
No credit is just not having a credit, Do you have a friend or family with good credit, If yes then ask them to add you on their credit, This will help you start your credit, and then after a 2 month apply a credit card only try to have one credit card unless you can afford it, keep your credit like a bible. It cost you a lot if you don't keep it good.
2007-03-03 18:58:32 · answer #3 · answered by Anonymous · 2⤊ 0⤋
In my experience, yes. A lot of the time you won't even be eligible for a home loan if you don't have a credit history. A little silly if you ask me, but that's the way it goes. They like you to have a proven track history of good credit.
And if you meant you were going to rent not buy... well that's a little easier, although then there comes into play the fact that you don't have a rental history.
Well, that's what I've found when I was looking at buying or renting a place to live.
I'm not saying you -won't- get a loan/rental, it might just be a little harder for you.
2007-03-03 18:51:21 · answer #4 · answered by tinania-elfireb 2 · 0⤊ 0⤋
It makes it difficult to get by in the world. Without credit and by extension, credit cards, it becomes difficult to travel, rent cars, as well as even get utilities set up without deposits, buy cars, and rent apartments. Eventually, you'll want to buy a home and will need a good credit history to obtain a mortgage.
Do yourself a favor and try and get a credit card. Even if you just charge a soda once a month and pay it off, it will help build a sterling credit record.
2007-03-03 19:03:26 · answer #5 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
no credit makes it tough to get ppl to rent to you loan to you. at your young age u need to start building credit. you need to take a loan out for a car or something and just make sure u pay it on time. u will need a co signer
2007-03-03 18:50:54 · answer #6 · answered by Matthew W 1 · 2⤊ 0⤋
yes it is but you would build up the credit and don,t give up because you will get your first credit card good luck
2007-03-03 18:52:34 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋