jeffb said:Your credit score is more then just a credit card. It reflects any credit that you may have including cell phone contracts, lines of credit, car loans etc. As has been mentioned though no credit is not a problem.
Sillyak said:If you are 18 get a credit card ASAP!
Sillyak said:If you are 18 get a credit card ASAP! A major factor of your credit score is how long your credit history is.
Pistos said:BS! You don't need to get a credit card and try to improve your score for the CF.
They will check your credit but what the CF is looking for is whether you are likely to become an administrative burden. Do you have a history of handling money badly? Are there multiple creditors just waiting to harass you and by extension your employer? That's the sort of thing they're interested in.Â
Do I know what I'm talking about? Well, when I enrolled I was fresh off bankruptcy proceedings; I had made my recruiter aware of the situation beforehand that - due to misfortune with a business and not negligence or mismanagement on my part - I would be filing and he told me to come back when the dust settled and proceedings where finished. I couldn't have had a worse credit rating at enrollment but they were satisfied that I was generally a responsible person that wouldn't cause them administrative grief.
In the years following bankruptcy I've learned credit isn't necessary. I have a MasterCard that's attached to my chequing account for things like booking hotel rooms. I save up and pay cash for cars and major purchases and by doing so can negotiate better pricing. I will concede that credit is usually necessary for real estate purchases but credible lenders will look at the big picture and your credit score will play a very small part in the decision to finance your home.
My $0.02
Pistos said:BS! You don't need to get a credit card and try to improve your score for the CF.
They will check your credit but what the CF is looking for is whether you are likely to become an administrative burden. Do you have a history of handling money badly? Are there multiple creditors just waiting to harass you and by extension your employer? That's the sort of thing they're interested in.Â
Do I know what I'm talking about? Well, when I enrolled I was fresh off bankruptcy proceedings; I had made my recruiter aware of the situation beforehand that - due to misfortune with a business and not negligence or mismanagement on my part - I would be filing and he told me to come back when the dust settled and proceedings where finished. I couldn't have had a worse credit rating at enrollment but they were satisfied that I was generally a responsible person that wouldn't cause them administrative grief.
In the years following bankruptcy I've learned credit isn't necessary. I have a MasterCard that's attached to my chequing account for things like booking hotel rooms. I save up and pay cash for cars and major purchases and by doing so can negotiate better pricing. I will concede that credit is usually necessary for real estate purchases but credible lenders will look at the big picture and your credit score will play a very small part in the decision to finance your home.
My $0.02
dapaterson said:Equifax and TransUnion will both provide a free credit report, once per year. You'll have to dig a bit on their websites to find the forms and steps to follow, bu there's no need to pay them for a copy.
Bart905 said:I had a Debit card Rbc said since I'm a student I dont have to pay for their services. Then after I quit my job they started putting monthly fee's on my debit account I did not have money on my card and it kept on going minus on my debit card I paid after 3 months would that effect me at all ? Its paid off but like I was too lazy to pay it off since they trick me into it ..
klink1983 said:Getting a card isn't a bad idea, but only get a card for $500. Use it for gas, and pay it 1 day after it is due.