OK I understand that if you have bad credit you are not likely to get a loan, but now I am reading reports that if you have bad credit you cannot get a job! However the Credit Companies still harass you 24/7 asking for payment of the outstanding debt, but how the heck can you pay it if you can’t get a job? It is just a vicious circle.
OK, I just bought my credit reports, and I couldn’t believe that I have to pay to get them, but two different sites said 840 & 834. Which are good scores right? I shouldn’t have much of a problem getting a good mortgage loan right? my REAL question is, my boyfriend has BAD credit, but he is the one that makes a lot more money than I do, almost double. So if we applied for a loan, would they be more interested in my good credit and his pay check, or his bad credit and my little pay check?
This is a good question, if you went to the main high street banks / mortgage companies and applied for a joint mortgage, they will most likely look at the combined pay check and the combine credit. However it is most probable that they will not be interested in giving you the loan. You maybe better off finding companies that specialise in providing mortgages to people with bad credit. As they are for more concerned with whether you can afford to pay back the loan. The downside is that you pay a lot higher interest rate. By the way if you live in the US you should be able to get your credit reports free visit the ftc website for more details.
I don’t have a credit card, do I still have a credit score? And how can I find out if I hold bad credit? I only have bank cards, but I am unsure of my credit score.
Yes you will have a credit record, but it is not possible to really say whether it would be good or bad as different banks provide different data on how you use your bank cards, to the credit agencies, again if you live in the US visit the ftc website where they tell you how to obtain your credit reports.