Sorry to ask such a naive question, but what are some examples of revolving credit? I was turned down for a credit card because I had no revolving credit accounts and no installment loan balances. I do not have car payments or a mortgage. I don't want to take out a car loan just to please the credit card company and a mortgage is totally out of the question. Any ideas? Thanks
Hmmm, good ideas! Thanks! It is interesting that you say a Visa or Mastercard can be considered a revolving account. I have two Visa cards and one Mastercard card -- all in excellent standing. Yet the credit card company told me that I had "insufficent amount of revolving credit". Would you recommend that I get a store card or gas card even if I never want to use it? Thanks
Also, how long have you had the accounts? If they are relatively new, it could flag the same message.
