I had the same question– how do you get what you need (credit) when you don’t have what you need (credit) to get it (credit)? 

What I didn’t know was that I was getting a credit score by just renting, going to school, etc.  Since I didn’t know, I wasn’t necessarily doing a good job building a good credit score.  Now that I have taken my head out of the sand and learned about taking responsibility for my actions and learning the full consequences of those actions, I am doing much better.  It’s kind of like a grade point average, though; it takes more As in the last semesters of school than in the early semesters to make a change (i.e. balance out that C in Business Statistics I shouldn’t have taken…). 

Like I said, I have now started to learn about how to manage my credit instead of it managing me!  I used to think I should get as many credit cards as I can and use them to the limit.  Bad idea– first, because I didn’t have any emergeny fall back credit (still have a great CD collection from the ’90s though!); second, because I didn’t know my credit was affected by using more than half of my authorized amount; and third, because I didn’t have a very good mix of types of debt– heavy on the revolving, unsecured debt and light on the “pay off in this millenium”, secured type.

So my point is, credit is a deeper, more complex subject than most people know and it certainly affects more things than you know and more than it used to.  That is not likely to change, so you might as well get yourself educated and play the game well. 

I am learning by working with people that already know the rules and soaking in as much as I can from them.  I’m talking about people that know how to start, run and explode a business.  I am helping to organize a conference with 11 of these experts that is coming up the first weekend in April.  Go to www.thecapitalfactor.com to get all of the info!

This entry was posted on Friday, March 21st, 2008 at 12:54 pm and is filed under Business Credit, Business Growth, Credit Enhancement, Credit Restoration. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.