What is all the fuss about paying cash for everything? Isn’t that a good thing? If you pay cash for everything doesn’t that mean you don’t owe anybody? Quite contrary to popular belief this actually hurts you. Let’s assume you pay cash for everything and all the sudden need a loan, it will be hard to get a loan with no credit. You will have not any credit scores generated with the credit bureaus with no credit being extending to you. I have heard quite often that I pay cash for everything because credit cards scare me. But let’s face it, we are all adults and can do anything we put our mind to. In our current society banks now use a automated software created by My FICO that determines your credit score and risk. If you have never borrowed money or applied for credit this software has not generated any credit history or credit scores for you. This is exactly what the banks currently look for.Applying for CreditLet’s assume you decide to go and apply for credit, only to find you are getting denied because you don’t have any credit. There is a solution to this that is quite […]

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