Is No Credit Better Than Bad Credit?

Yes, technically, having no credit is better than having bad credit, though both can hold you back. Bad credit shows potential lenders a negative track record of managing credit. Meanwhile, no credit means lenders can’t tell how you’ll handle repaying debts because you don’t have much experience. People with no credit history may have trouble getting approved. for example, while people with bad credit may have trouble applying for credit, renting an apartment and more. Luckily, there’s a way out. Whether you’re just getting started with credit or you’ve made a few financial mistakes in the past, the next steps are simple: Learn what it takes to build your credit score and start working your way toward good credit, With Dr. Cheryl McKeiver Monday Mornings at 10am EST. We Talk  Money Every Monday!

Source: 13WHAM-TV