iwantahouse Posted January 20, 2005 Report Share Posted January 20, 2005 I hope someone can help me with this. I've just started looking into my credit reports because I would like to try to buy a house this coming summer. My credit reports are really bad (mid 500s). The experian score report said that the factors lowering my score were late payments and the fact that I don't have any open, currently active credit cards. The fact is I have hardly any debt and I would like to keep it that way. Do I really have to get a credit card to improve my credit or is there anything else I can do? I'm so scared that if I get a cc it will lead to bad things! Link to comment Share on other sites More sharing options...
miracle Posted January 20, 2005 Report Share Posted January 20, 2005 Welcome Iwannahouse! Usually your scores are based off of various factors including payment history and the size of you file including credit cards. If you don't have any, they can't see the responsibility there. Credit cards won't turn into a nightmare with you and will not get out of hand as long as you are responsible about it. Only charge a small amt on your card, pay the balance in full everymonth... you will be fine. But to answer your question.. yes.. you have to have credit to get credit for the most part. Link to comment Share on other sites More sharing options...
credithelp Posted January 20, 2005 Report Share Posted January 20, 2005 A credit card definitely helps as long as you dont abuse it. The most important thing is to pay at least the minimum payment ontime each month.Also, try to keep the balance low. Link to comment Share on other sites More sharing options...
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