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(Good) credit history happens from a repeated pattern of meeting one's financial obligations, including mortgage payments, utility bills, student loans, car pay
by eldavido 13y ago
(Good) credit history happens from a repeated pattern of meeting one's financial obligations, including mortgage payments, utility bills, student loans, car payments, etc., and not doing financially reckless things like overdrawing bank accounts, skipping town, etc.
Generally one needs to have owed money to have a credit history, but this isn't the same as not having debt.
- nraynaud 13y agobut isn't the fact of having never borrowed money, and have always saved before buying stuff even safer than taking any obligation whatsoever? also, paying your phone bill on time gives you a good credit rating?
- ImprovedSilence 13y ago>> paying your phone bill on time gives you a good credit rating I don't know about phone bills, but electric and gas bills, yes. Also, so does being signed to a lease and paying rent. And as stated above, just having a credit card, even if you only charge like $20/month and pay it off every month will help tremendously.
- lawnchair_larry 13y agoNeither of those are true actually. Phone companies check your credit, but they don't report back, unless it's negative information due to collections. Neither does paying rent. You only get positive information on your credit report for loans, credit cards, lines of credit.