Both my husband and I have no credit, and I'm not working. We have started thinking about building my husband's credit, so he applied for a Capital One secured card, they approved him for a limit of $200, and he's waiting for the card, which I believe it should be in the mail box within 2 weeks. Also we were thinking of purchasing a house, some bank qualified him for a loan, and probably we'll buy a house within 2 months. My questions are what is going to happen to his credit? Should he keep the Cap 1 secured card?
wow bank approved a house loan with no credit? what kinda rates? One would think waiting a year or two to establish credit might be in the best interest(literally).
I am curious as to your rate as well. But yes you can still get a decent mortgage without a credit history, they use utility bills and prior rental history . FHA loans do this ALL the time. Yes you can keep the card, a mortgage on your reports will certainly start building your credit history.
please dont use my name I have been using the name rolo on this board for months now.I would appreciate if you would use another name please.
RE: please dont use my name Oh, I'm sorry! I'm so new to this board and didn't know that. I'll use some other name...... Can't think of anything right now!
RE: please dont use my name Just let us know that you are the second ROLO when you make you're first post with the new name so we can identify you.
