If you never had anything under your name for credit am i elgable for good credit?

Question

If you never had anything under your name for credit am i elgable for good credit?

Answer 1

you can ask companies to report, retailers seem cooperative,

choose your best ones

Answer 2

No. You have to build credit to get/earn good credit. As of now, you have none to back you up, leaving you in a low (not necessarily "bad", just low) credit bracket.

Basically... you need to establish credit.

Answer 3

No, you would be what we in the credit world call a "Ghost" this means that you have no score and no recorded lines of credit.

Good credit must be built and scores are based on the following factors;

1. Payment history  35%

2. Time in bureau  15%

3. Types of credit  10%

4. New credit  10%

5. Debt to credit ratio  30%

To have the best credit score and profile people need 3 credit card accounts (revolving) with balances below 30% of their limits and 2 cars, boats, homes, computers, furniture or personal accounts (installment) all with good long pay history's.

You can establish a good score in 24-months but it takes around 5-years to have the score and profile.

Answer 4

No mam - no credit is worst than bad credit because you have nothing at all reporting.

To get your first card it'll probably have to be secured, meaning a credit card company will request you send in anywhere from $300-$500 dollars and they will give you a credit card for the amount that you put down - After making payments on time they will return your cash to you. Also these companies report monthly to the credit bureaus. After about six months you can apply for a major credit card and within an 18 month period if all payments were made on time you'll have fairly descent credit.