5 Questions
Having no credit is different from having bad credit because
Having no credit means you have never borrowed money before
Why do lenders sometimes deny loans to individuals with no credit?
They are unsure of the individual's ability to repay the loan
What is the only way to build credit?
To use credit
Why is it easier to get credit if you already have a credit history?
Lenders trust individuals with a credit history more
What can individuals do to start building credit from scratch?
Make small purchases with a credit card and pay them off in full each month
"Understanding Credit: Do You Have No Credit or Bad Credit?" Quiz
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