Developing a LOC - Posted by Chris O. (WA)
Posted by Chris O. (WA) on January 28, 2002 at 02:59:06:
How do I start building a line of credit so I can get lender financing if I need to?
When I moved into this apartment from living at home six months ago, they told me I had “no credit history.” When I apply for credit cards, I get application-denied letters sent back saying things like, “INSUFFICIENT CREDIT EXPERIENCE.”
It’s seems to me that this is something I should work at all throughout my real estate education, starting immediately.
One more thing: I’m told there is “commercial” credit and a personal credit. What does that mean, and how should I take that into consideration when trying to build credit?
Thanks for your patience,