Tag Archives: Credit Rating

I don’t take risks and so I don’t have credit?

Stephanie W asked:

At 26 years old, I have no debt. I also have no credit. It’s not that I have bad credit, it’s just that I don’t have enough. My policy is to never buy something I know I can’t afford! I just found out my credit rating is 646. That’s poor! It’s been suggested to me that I open up a line of credit and purchase something I can make payments on. I’m thinking about buying a classical guitar I fell in love with which is about $900. Is that the right way to go? Does someone else have a better idea?