Inmybizz wrote: ↑Sun Jun 04, 2023 9:14 am
Bobcobbagob wrote: ↑Sun Jun 04, 2023 8:26 am
Inmybizz wrote: ↑Sun Jun 04, 2023 8:18 am
I don’t remember the rental company I couldn’t use a debit card to “hold” my reservation even though I intended to pay cash when I returned it.
But, that was many years ago perhaps that policy has changed.
Do you need a credit score for a home loan?
A good credit score will impact how much you pay for a home loan.
A bad/no credit score will end up paying a lot more in the end than someone with a good credit score.
That’s what I thought.. there are advantages and disadvantages of having no credit.
I don’t believe we would have been able to get a loan with no credit.
I really can’t think of any advantage to not having a credit score… you don’t have to be in debt to have one, but your credit score increases each time you are given more credit.
So if you get a credit card, pay off whatever you buy on it (you can even do it that same day with phone apps) …
then you won’t go into debt, plus if you keep the amount of credit you use under 30% of the amount you are given your score goes up…
then after a while you ask the credit card company to increase your credit limit, and your score will increase even more.
The more you increase your score, the better loans are available to you, credit cards with perks are available , and job opportunities increase as well.