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>anything else you'd need a credit score for is probably better off being paid for with cash. Your credit score has become a stand-in for a whole bunch of non-
by __z 11y ago
>anything else you'd need a credit score for is probably better off being paid for with cash.
Your credit score has become a stand-in for a whole bunch of non-credit related things. You get lower insurance rates with a higher credit score and vis-versa. Every landlord nowadays requires a minimum credit score and employers will check your credit report as well. For the last item not having credit won't be a problem, however, they are just looking for negative items. Utility companies (cell phones, internet, electricity) usually require a down payment for those without a credit history (or those not wishing to authorize a credit check). Your credit is pulled when you get a bank account (don't know the consequences of not having a credit report for that one though - if you don't show up they may make you prove your identity more?)
- bdcravens 11y ago> Every landlord nowadays requires a minimum credit score Not accurate, though it may be true for a typical apartment complex.
- __z 11y agoDepends on the region, of course, I should have put that as a disclaimer. Where I live you absolutely can't get an apartment from anyone unless you submit to a credit/background check (and pay for it yourself of course). This wasn't the case a few years ago but that's how it is now.
- bdcravens 11y agoPerhaps you should clarify apartment landlords, since many houses are owned by individual real estate investors who lease out the properties, and who have a different set of requirements when it comes to single-family dwellings.