 Credit rating? |
| How can you make it better once you have a few defaults from missing a few payments with just one company?... |
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 Which credit card would you choose and why? |
Additional Details
discover or mastercard to add to your visa credit ... |
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 Are consolidation loans worth it? |
ive got a few credit cards and a loan, at the time when i got them i had a fiull time job and found payments easy
i went back to college last year ti further my education and get better ... |
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 My credit score is 620. Is it really bad? |
| I'm planning on buying a condo. Should i wait for my score to be better? I have 2 credit cards now and don't want to apply for more. Should i get a car to help build my credit story or get ... |
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 Will we go to jail if can't afford to repay credit cards debts ? |
| I have 5 outstanding cards which had not been paid for over 1 year due to my unemployment. All of them are over limit.... |
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 My credit is improving but.......? |
| I hate having 5 different bils to pay every months so I am thinkingh of getting 1 loan to cover them all. the problem is that the loan is high apr (35.9%) but having worked it out my existing loan ... |
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 Whats the best way to build our credit without getting into a lot of debt? |
| We are young newly weds and niether of us have anything (good or bad) on our credit report. We were able (luckily) to be able to sign a lease for our apartment without a cosigner. I make the payments ... |
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 Why do we give sympathy to those with credit card debt? |
| No, I'm not referring to those whose identity has been stolen. I mean those that have, from their own irresponsibility, have bought so much stuff that they are now in mountains to debt. Why ... |
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 How do credit cards get away with outlandish interest rates? 30%??? |
| I thought there was a law that prevented them from going higher than a certain number. I used to see the highest rate being 21% but now it seems to be up to and over 30%! This is why I don't ... |
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 Does it hurt to Apply for Credit Cards if you have no Credit History? |
| hi, i just turned 18, never had any credit cards, never paid any bills, and i applied online for my bank of america student card, however, i was denied even though i met the qualifications, so i ... |
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 Any doubt counsellors or solicitors with debt experience out there? |
my friend (yes,really, not me (grin)) has arranged
regular payments wh all his creditors which he makes on time - one of them in particular keeps threatening him with legal action or debt ... |
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 Does anyone know where i can get my credit report? |
| i want to get my credit report so that i will know what i owe so i can buy a house for myself and my son for a better life but i actually want to get the report without having to apply for credit ... |
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 Is this a bad way of building credit? |
| I am 18 and I have a $23,000 auto loan that my parents co-signed for me. I also have a credit card. Both payments I pay in full and on time each month. Does this look good as far as building credit ... |
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duelkid12 | How do I build my credit if noone will give me any? |
If you have just turned 18 and you of course need credit, how can you get it if every place requires credit history to get it? |
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Rachel N ♥
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To the best of my knowledge, getting a gas card does not help your credit rating, but it can hurt it. They do not normally report your payment (in my experience) to the three reporting agencies (Experian, Equifax, TransUnion). But in the event you are delinquent in payments, or it goes to collections, they will report it. And then, you will suffer a negative rating. In other words, they don't help you establish credit. |
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Lacie
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Try applying for a small loan at a credit union. They are much better than banks, and are non-profit. Maybe your parents will co-sign with you if needed, if you explain to them your plan to build your credit.
Get a loan that will take at least 6 months to pay off and keep the money in your savings account. Make the payments ON TIME or slightly early by moving the money from your savings account to the loan, and make sure you don't pay it off before six months.
You can also get a credit card with a small limit ($500) and charge something to it every now and then (NEVER charge more than what you have in your checking or savings account), and then pay it off as soon as you get the bill so you won't have to pay interest. The credit union might have a credit card that has a low interest rate.
After about 6 mo. - a year you will have established good credit, and you can request a credit limit increase which will further help your credit.
BUT - credit cards are very dangerous - you should NEVER use them except to build your credit. NEVER charge something that you will not be able to pay off As Soon as the bill comes. You will severely hurt your credit if you are late or start spending money you don't have. It will never clear off of your report, and it takes 7 Years or more for bad credit to "improve." |
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wain
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When you start college, you'll never be able to get rid of credit card offers. I'm about to be in my 2nd year of college, and I get around 5-6 credit card applications every month, and it's really annoying. (They're ALL from Capital One) |
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from me to you
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Get one of your relatives, like your mom or dad, to put you on their credit card. You'll piggyback on their credit score until yours is built up.
If they don't want you on theirs, then maybe you shouldn't have one in the first place. It's better not to have a credit card than to have one and wind up with a lousy credit history.
Another way is to purchase something (like a car) with someone co-signing for you. You make the payments, but they agree to pay them for you if you fail to make them.
Whatever you do, don't mess it up. Credit histories are hard to fix once you get bad marks against you. |
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Lady G
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It's rough, isn't it? Do you have a bank account and savings? Sit with a bank officer and explain the situation. See if they'll lend you $500 - $1000 to establish credit. If not, try a credit union - you'll need an account with one. Good luck! |
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Serge M
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Credit is not something given to you. It is something you earn by being reliable in paying for the things you buy. If you have a job and are earning an income, you can apply for a credit card. Once you get the card, the way to establish a good credit history is to pay the full balance of the bill each month. Not only will you show that you are reliable in paying your debts, you will also avoid paying any interest. but if you are applying for a credit card in order to get into debt, you will have nothing but problems in the future.
Another source of credit is with the purchase of an automobile. You can start by buying a cheap used car and paying it off as quickly as possible. Save up enough money for a good sized down payment before you start buying.
I initially established credit many years ago by buying a motor scooter for $150. I offered the dealer to buy it with $50 and two $50 payments at the end of each of the next two months, with no interest. I could have paid the cash, but the dealer did not know that and wanted to make the sale, so he agreed. Within two months I showed him that he can trust me and I could use him as a reference if needed. |
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Celia
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Open a checking account with a bank and they will issue you a debit card with a Visa or MasterCard logo. It's as good as a credit card the only thing is you have be very careful with your purchases, because everything you pay for with this debit card comes off your checking account. If you go this route. Be sure to always check your account online, just in case there are purchase to didnt' make. |
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AriesJWR
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When I was 18 I was able to pick up a Chevron Gas Card - they only gave me a $200 limit, but I just used it to purchase gas every month - and paid it off every month. It was a great way to start building credit and have something show up! Within a couple months I picked up a Capital One Visa with a $300 limit and did the same thing, just charging a couple items per month and paying them off every month.
I now have excellent credit (and am only 22) including a mortgage and no debt. ---bytheway, if you get a lower limit they DO raise them periodically it's good to just get started. |
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ThatGuy!
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Either a co-signed loan, or a credit cards.
It may have to be a secured card.
Not always does it take credit to get credit.
Try this site
http://www.thecreditcardtorebuildcredit.com/categories/bad_credit_credit_cards |
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Tinkerbell
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Trying finding a Secured Credit Card company (Capital One, etc.) Yes they require a deposit, but if you keep all of your payments on time and in full, it will eventually help you to establish a very positive credit rating. |
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twv23512652
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Secured credit cards are a great way to rebuild your credit. Most secured credit card companies require a deposit equal to the credit line your are seeking. Make sure they report your payment monthly to the major credit bureaus. Making your payments on time monthly will increase your credit rating. You will also get you deposit returned to you after one year, turning your secured credit card into a unsecured credit card. |
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MazdaTech_PR
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when you get 21 you will get your oportunity to get credit
for now you are a kid for loans and stuff |
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