Are you wondering if no credit is just as bad as poor credit?

Are you wondering if no credit is just as bad as poor credit?

Credit Questions 

It can be. You need to have at least a few established credit accounts to develop a score, and you need a score for most loan programs.

It’s great to keep your spending under control by only using cash, but if you ultimately need to finance the purchase of a home, the sooner you solidify a good payment history the better. Without using credit, there’s nothing for the bureaus to use as a basis for their scoring algorithms.

A good mix makes for the best start. For example, get a bank overdraft credit line, a credit card and an installment loan, such as an auto or personal loan.

Reach out today, and we’ll be happy to answer any questions you may have. Christina Daniels Absolute Mortgage 360-753-3064.