The content is accurate at the time of publication and is subject to change.
When is a person considered to be creditworthy? It is when his credit report shows no indication of bad paying reputation. This is when all debts and mortgages are settled. What then would be the benefit of being a credit worthy? When you have a good credit history it would be very easy for you to get approved of a loan or apply for a credit card. But what if you never had any debts in the past, would this mean you are pretty much qualified to be called creditworthy? The answer is no.
Having no record of credit is never an assurance that. Companies are safe investing on you. One should understand that the credit history is where lenders first check on you. With no credit report, they would not have any basis for their investigation thus making you a weak candidate. It takes time and patience building one's credit history. You wouldn't be able to achieve in a snap o a finger as other service companies claim. Yes, they can give you some guides but they can never design a shortcut for you.
First thing you can do is build a good personal background. Aside from the credit history, lenders are also interested on how you manage your job, your home and your lifestyle.
If you don't have a credit history yet and would like to give lenders a good impression of you then try your best to keep an impressive employment record. Stay in a job longer and try not to be unemployed for a long time. Long period of unemployment would give lenders an idea that there could be possibilities of non-payments should they approve your loan or credit card application.
It is the same thing with your residency, the longer you have stay in just one place, the better your chances are.
These factors may not be the major basis for your creditworthiness but they sure are helpful.
Out of desperation, we sometimes give in to some offers laid to us by service companies. Individuals or companies claiming that they can help you with a quick fix are not at all real. Once you give in, you'll only lose your money gaining nothing in the end.
If you're serious building your credit history, better talk this out with an expert. But then again be very careful when they ask money in exchange of their service. Don't let scammers take advantage of you.
