I don't need a credit line or credit-card; I pay all my bills every month with
money. Is this you? Well then, you have the obvious answer, but what if…
In today's world, we are moving into an era that requires us to have at least
one major credit-card.
When you phone any business where you have debts, they
will first ask you to pay with a credit-card.
If you buy from Ebay you will save money, you will sometimes find items on ebay
which are available nowhere else. Yep more often than not you will need some sord of card to use Ebay.
If you go apply for a job,
apartment, mortgage, car loan, or any other credit line you most likely will get
a rejection notice in the mail. Most lenders won't give credit to anyone that
has no credit-history. The reason is that we are expected to establish a credit
line when we are teens, and if we don't the lenders are often suspicious.
Lenders don't have an idea and can only base their judgments of you on
presuppositions. Can I assume this person will make monthly payments on time? Has
this person taken for granted a loan from a friend or family member in the past
and there are no records available for me to see if it is true?
There are many
reasons why lenders will refuse you a loan if you don't have a credit score and
for that you need a credit history.
The best solution is starting up a line of credit asap, pay off your bills on time
and avoid making purchases on items you don't really need.
Staying out of debt
means regulating your money every month and paying your bills on time.