I don't think has that big of an impact on your credit rating. Unless it is different types of credit. (cc, home, vehicle, loan).
But I agree the credit system, is quite stupid. Especially since the credit score is basically you need debt to get more debt
If one were to take out a number of different debts, and pay them all up diligently, presumably that gets one a better rating. Even if one has no need of any credit, in the first place, and could afford to just pay cash and in full, going into temporary debt, and then getting out of it, seems to be the only way to build up the rating. Get an Edgars account, get two or three other accounts, run up some debt on those, and pay off everything faster than required (so as to incur as little interest as possible). The interest becomes, then, an annoying cost of having to buildiup the credit record, that's all.
Take out some subscriptions to something which accepts customers only with a certain credit rating.
Once one has enough of a credit rating, get a credit card, use it frequently, and pay it all up on the day before the interest would start ticking.
Accumulate assets, some of which liquid.
Good. For someone who has done all of the above, thereby having achieved a high credit rating, would enquiring at several banks for a better or best mortgage deal still negatively impact the credit rating? Or is it only the people who haven't built up a good credit rating, who are punished for trying to make the best financial decision?
Sign up with Google