I am 37 years old. I have discovered the night mare of bad credit. Even being a experience banker that deals with credit reports on a daily basis. Sometimes you can have credit issues when you lose your job or fall on hard times because of illness or as a result of the economy. In most cases bad credit is not something everyone wants. It happens becasue of circumstances beyond your control. I have learned some very valuable lessons. Here they are.
You can never have enought savings. The rule of thumb is you should have at least 6 months savings in the bank to cover your expenes.
Credit Cards are only for purchases that you can pay off completely the next month. In some cases they are for emergencies, but keep in mind you are to pay off that card as soon as posslbe. Debt is a credit killer.
In order to save you need a budget so you can have a clear direction and mange your credit properly. Without a budget its like the blind leading the blind.
All of these keypoints will have you mange your credit so when you go to get a loan your rates and terms will be reasonable. All of these factors will affect your credit score. You credit score is obviosuly the key factor in the approval process for any loan. With what has been mentioned you can can make sure you over credit is healthy due to savings, low debt and good budget plan.