False. Have you ever heard the saying “Better to remain silent and be thought a fool than to speak and to remove all doubt.”? This same priciple applies to your credit history as well. If you have no credit there is a chance that you may end up with bad credit someday…or you may end up with good credit. You are still a question mark in the eyes of creditors. If you already have bad credit, creditors have already made a determination on the likelihood you will make timely payments. You now have to overcome this reputation if you want to improve your credit standing. If you have no credit than you are starting with a blank slate.