Whats a good way to build my credit??

right now i have fair credit, but i just want really good credit, are there any good ways to build my credit that wont take a long time and that isn't a big hassel. maybe some small things that i can do???? and im only 19.

10 pts.

Hi!

Here are seven steps you can take to help improve your credit score.

1. Pay your bills on time. Even if you pay the minimum amount due, it is important to pay your accounts on time! Your payment status plays a big role in determining your credit score. Your payment history actually accounts for 35% of your credit score.

2. Avoid using too much of your available credit! Scoring models consider lower balances to be a positive factor. When you are "maxed out," using virtually all of your available credit, your score will be adversely affected.

3. Pay down your debts! Again, the more debt you pay off, the more available credit you will have and this will reflect positively on your credit score. Lenders like to see accounts where you are at 30%-35% of your available credit, demonstrating a positive debt-to-available-credit ratio.

4. Keep your new applications for credit to a minimum. Too many new applications for credit over a short period of time will lower your credit score. This could be especially damaging to you, if this occurs at the same time you are looking to finance a new car, or taking on a new mortgage.

5. Be careful about closing your old accounts! Even if you have an old account that you've forgotten about, and not used for a long time, you should think twice before closing it. Why? Old accounts can help your credit score, because they can demonstrate how long you have used credit and scoring models factor this in to your credit score. By closing an old account, you may be negatively impacting your "length of credit history." Even if it seems like a good idea to close older, more established, accounts to consolidate your balances, you could very well be lowering your score by reducing the credit history you present to lenders. Closing old accounts can also reduce the overall amount of available credit that you present to lenders.

6. Make sure your credit reports are accurate on all three credit bureaus. Since there are three separate credit bureaus that maintain your credit files, and companies where you apply for credit often rely on separate credit bureaus, you should check your credit reports from all three credit bureaus. You can do this once per year for free for each credit bureau at www.annualcreditreport.com. However, your free annual reports do not include your credit score. For your convenience, you can also order a 3-1 Credit Report that provides a side-by-side comparison of all three of your credit reports: Equifax, TransUnion, and Experian. This report comes with credit scores for each bureau.

7. Monitor your credit reports on a regular basis. Credit reports and credit scores are changing on a regular basis as new information is filed. Not only is it important to make sure credit reports are accurate to make sure you get the credit you deserve, but monitoring your credit can also help you detect potential identity theft. Should you discover information on your credit report that you believe to be inaccurate, you have the right to dispute the information. You can do this by writing to the appropriate credit bureau at the addresses below, or you may go to the appropriate website for each bureau and file an on-line dispute form. It is important to monitor your credit reports on a regular basis because errors in your report may lead to lower credit scores.

Good Luck!

Tamm02 had a good answer, but nothing is fast, so if your credit is fair, you need to get your credit report to see what is bringing your credit down. Work on the items that are negatives, and continue to pay your bills on time.

just take it easy, go on with your life, never make a late payment, and gradually your credit will get better. this includes even things like your household bills such as water, electricity, phone, etc. obviously don't take on more credit than you can handle, but if you do, find a way to get out of it without going delinquent on anything.

Yes, getting a big loan is a great way to show stability, but what I'd recommend is looking smaller to get you to the point you can get that car loan.

Look into getting a secured credit card (VISA/MC), where you leave them a security deposit equal to your balance, ensuring it can't default. Then use this make small purchases that you pay off each month. Often this type of system will work in your favor and report to the bureau with regularity, informing them of your good payment history, looking favorably on your situation.

Read this article for best practices on building credit, http://www.monitorbankrates.com/how-to-build-maintain-and-repair-your-credit

U are only 19, so be patient. Usually borrowing money and paying it in time is the best way to build credit. A installment loan such as a car loan, a mortgage, is also better than a credit card account in building your credit. Another trick, if your parents have really good credit score, you should check if they would let you be an authorized user of one of their CC. That way, that particular CC will become part of your credit history, extending your credit history all the way back to when that CC account was opened. For instance, if your mom has a CC for 10 years and she lets you be an authorized user of that CC, then in your credit report, your credit history now will started 10 years ago instead of when you actually got your first CC on your own. But bottom line is don't live beyond your means. If you follow this, your credit score can only go up.

try to have 4 - 6 active trade accounts in good standing. Trade accounts are things like a car loan, credit cards, and personal loans. With your credit cards, don't use more than 40% of your credit line. Do not have too many credit inquires on your report; that will lower your score. Don't get too many credit cards; that will keep your score from rising. Don't cosign for anybody. If they don't pay your credit is effected.
http://www.creditwish.com/faircredit.html

an excellent way to build up credit is to use a "store" credit card such as a Target credit card. Just pay off the balance before you get hit with interest. This is probably the best way to build up credit when you are just starting off.

Buy a car, and get a car payment that you know is under what you can pay. Pay twice the payment monthly.

Get anything on credit that you know you can purchase ahead of time. Put the money in the bank and pay it off in a couple months instead of a year. (like jewelry or furniture).

Get a credit card with 0% interest for a year, and pay off item in the year.

Get a credit card for your gas, and pay off at the end of the month.....or any credit card...use it to pay bills then pay off at the end of the month.

keep ypu credit card balance uner 30% pay all your bills on time

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