The terms "limited credit" and "no credit" are typically used synonymously to describe anyone who has not been the primary account holder on a credit card or loan for three years.
Lenders give inexperienced consumers the benefit of the doubt to a certain extent in that the terms they offer them are better than those given to people with bad credit. However, you must demonstrate the ability to consistently make on-time payments to your monthly financial obligations as well as maintain balances below your credit limits in order to build the requisite credit history to be trusted with higher credit lines as well as competitive rates and rewards.
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