Credit

[Fhistleb]

What are some good ways to build credit? i'm tired of not being able to get anything, starting life sucks.

 

[Xylitol]

Don't sign up for tons of credit cards

 

[Fhistleb]

I know about that much, that could get me for life, all I have going for me is I have a Cell phone with the bill under my name.

 

[Bill Brasky]

Incur some debt that requires monthly payments. Make those payments and your credit will go up.

 

[wetcat007]

Just out of curiosity, does having a couple credit cards and paying them off in full every month do much to build credit or just a little?

 

[Whoozyerdaddy]

Originally posted by: wetcat007
Just out of curiosity, does having a couple credit cards and paying them off in full every month do much to build credit or just a little?

1. Length of credit - whether you use it or not - That's primary #1
2. Ratio of credit availale to credit used - you have it but you're not in debt up to your eyeballs... shows responsibility.
3. Credit available vs income - See #2
4. Number of late payments - Common sense

These are the major factors to building credit.


In reference to the OP.... it just takes time. If you excercise these simple rules you'll be in the high 700's in a few years. Only have 2-3 credit cards... never run them up and always pay them off.

 

[Orsorum]

Paging Rossman...

 

[Beattie]

Originally posted by: Whoozyerdaddy

Originally posted by: wetcat007
Just out of curiosity, does having a couple credit cards and paying them off in full every month do much to build credit or just a little?

1. Length of credit - whether you use it or not - That's primary #1
2. Ratio of credit availale to credit used - you have it but you're not in debt up to your eyeballs... shows responsibility.
3. Credit available vs income - See #2
4. Number of late payments - Common sense

These are the major factors to building credit.

Uhh, no. Well, good guess anyway. The only one that's even on the actual list is the first one and it's not the most important.

Your Payment History and Amounts owed are more important when determining the score than length of your credit history. And your income has nothing to do with it at all.

http://www.quickenloans.com/mo...cles/credit-score.html

 

[YetioDoom]

Credit Boards

 

[sswingle]

Originally posted by: Beattie

Originally posted by: Whoozyerdaddy

Originally posted by: wetcat007
Just out of curiosity, does having a couple credit cards and paying them off in full every month do much to build credit or just a little?

1. Length of credit - whether you use it or not - That's primary #1
2. Ratio of credit availale to credit used - you have it but you're not in debt up to your eyeballs... shows responsibility.
3. Credit available vs income - See #2
4. Number of late payments - Common sense

These are the major factors to building credit.

Uhh, no. Well, good guess anyway. The only one that's even on the actual list is the first one and it's not the most important.

Your Payment History and Amounts owed are more important when determining the score than length of your credit history. And your income has nothing to do with it at all.

http://www.quickenloans.com/mo...cles/credit-score.html

Did you read your own list? I see 1, 2, and 4 on it.

 

[Fhistleb]

I thank you all.