NO CREDIT HISTORY?

No credit cards and paying cash for everything does not give you a good credit history. It gives you no credit history. You can build up your credit history if a friend or relative is willing to share a credit card with you and add you as an authorized user onto their accounts. You can also put utility bills and other accounts in your name if if someone else pays the bill.

Credit Use

Apart from removing incorrect information from your credit report, you can start repairing or rebuilding your credit simply by improving your credit behavior. Start by making sure you pay your bills on time every month, as this is the single biggest factor in you credit score. Paying off any credit card debts will also help you increase your score. If you dont have funds available to pay your bills, you should talk to credit counselor as you may need to employ more serious optings such as debt settlement or bankruptcy.

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WHEN TO PAY OFF AN ACCOUNT BALANCE

Paying off a loan may have a negative effect. Often lenders require an applicant to have at least 3 open, active accounts for 24 months or longer. If the loan is paid off it doesn’t count as one of the 3 accounts. However, if you pay off a loan, your credit history is updated to reflect that and stays on your report for 10 years. Negative information stays on your report for 7 years.

Effect of Inquiries on your Credit Report

For large purchases, i.e. mortgages or auto loans, when shopping around for the best quote, try and arrange for all inquiries to be made within a 15 to 30 day period. They will have minimal negative impact on your credit report if they are all within a short time of each other.

How much does bad credit cost?

If you purchase a $20,000 car over five years, mildly damaged credit will cost you $4,722.54. Poor credit will cost $8,593. If you purchase a $100,000 home over 30 years, mildly damaged credit will cost you $50,155.24. Poor credit will cost $130,791.63. If you pay $10 a month on a $500 balance on a credit card, poor credit will take 14 years and cost $1,174.36 in interest.

Why cant you just pull or order my credit report for me?!?

Beware of companies that do!
A company or individual must have a "permissible reason" for pulling a consumer credit report such as judgment/collectons, extension of new credit and employment screening.

WHAT IS CREDIT HISTORY

A history of debt is not credit history. The distinction makes a big diffrence. It means using a credit card and paying off the balance each month. It does not mean racking up a lot of credit card bills. Credit and debt are not the same thing.