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Hilary Johnson's Blog

By Hilary Johnson | Agent in Fredericksburg, VA

HELP...I dont have any credit...

Help.... I dont have Credit...

 If you have been turned down for a regular credit card talk to your bank about a credit card where you can pay an amount upfront..usually $400 or so.  This is now your credit limit.  When using the card charge only 50% of the total amount.  The credit bureau scoring is based on credit not on the type of card so a "pay upfront" credit cards look just like a regular credit card in scoring on credit report.

TIP 2 Do NOT get a charge or revolving credit card.  I know these offers seem attractive to save 20% on your purchase at the time but these types of cards can do damage to your credit and if you have this type of credit keep balances at 50% and make all payments on time...one late payment and your credit score will take a big hit!

TIP 3 You can get 1 free credit report each year however the credit score on these reports are NOT your true credit score.  To get your true credit score just like a mortgage company would... go to www.myfico.com There is a small fee involved.

TIP 4 If you co-sign on any loan or lease you are responsible for the repayment..many times I here buyers say.."thats not mine...I just signed to help out..."

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Hilary Johnson, Realtor
Keller Williams
302 Westwood Office Park
Fredericksburg VA 22401
Licensed In The State Of Virginia


By michelle_ac24,  Fri Jun 7 2013, 23:48
Credit score is 642 and wanted to know to your opinion in regards to, if I were to qualify to purchase
A home with no money down?
By Hilary Johnson,  Sat Jun 8 2013, 03:49
possibly..the reason I say that is this..everyone has a high, mid and low credit score from the 3 credit reporting agencies...you are right at or very close to being able to buy please call me 540-850-2007

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