4 ms·
An empty history is a blank piece of paper, whereas one with negative records is stained for years. When you have no credit history, lenders can't form an opini
by Jare 13y ago
An empty history is a blank piece of paper, whereas one with negative records is stained for years. When you have no credit history, lenders can't form an opinion on you. However, you can build a history with only positive records by buying ever increasingly expensive stuff; for immigrants, a progression like car+apartment lease + furniture -> big TV/thing -> car -> house is common. (I never got up to the house part, but as soon as I had a credit card, I made sure I paid EVERYTHING with it)
- nraynaud 13y agoThis mindset is slightly frightening to tell the truth. 33 years without debt, and having to give money to the bank because people are suspicious of purely basic financial responsibility. I mean, taking a job is not borrowing money, you're paid after the period of work, you're the creditor, the rent is paid in advance, you're still the creditor. Does having savings counts positively in the credit rating?