Quote:
Originally Posted by SilentKnight
Yes and no.
Banks like to see a proven history of credit repayment - that's what they give lending weight to mostly.
Banks are inherently suspicious of someone with no debt at all...since they go on the assumption that almost everyone conducting legal business incurs some measure of debt at some point.
I always had a flawless credit rating personally prior to starting the biz. And was rather shocked when I learned the biz was actually hurting my overall credit score. I had to scramble and take a crash course on finance to sort through it all.
|
Good advice, i too, am in a learning curve. going to open up some cards in the morning to establish "credit" How fucked is that? So a man, self made with no ties to the bind is judged poorly?
Again, I run at least 5 digits thru AMEX with never missing a payment, but because they never Allowed me to do such business= credit risk?
Newb here trying to get another house loan is all, thanks for all that have been down this road with advice!