Establishing and Building Good Credit

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 08-31-2007, 05:27 PM         #81
Queenshawtii 
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Nice post. I wanted to add Suze Orman books and DVD's are great too she's goes into alot of detail about getting rid of debt and keeping yourself out of debt and planning for your future. I would recommend Young, Fabulous and Broke by Suze Orman
 9 years ago '05        #82
edgar45 
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props
 9 years ago '05        #83
Tattered_Hoody 
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25, 740 score and 80,000$ available credit...

who wants to start a business? get at me
 9 years ago '05        #84
Tattered_Hoody 
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if you have monthly bills like cable, etc. put them on the card and pay the card off every month.

Better yet, do this for everything you'd normally spend the cash on (gas, food, entertainment) but PAY IT OFF EVERY MONTH!

Even better, get a Discover Card and get a few bucks back for everything you put on the card.
 9 years ago '05        #85
Tattered_Hoody 
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if u wanna take it even further (for those with decent credit already)

sometimes you get an offer for 0% apr for a year with a card.

Let's say $10,000 limit, you take 9500$ and pay a 3% fee.

Then you put that 9500$ in a 5-6% saving account and pay the minimum payments only for a year.

End of year you made yourself 300 bucks or so. In time, you can get higher limits and do it again.
 9 years ago '05        #86
Tattered_Hoody 
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 Bodega said:
I have a student card with bank of americqa should my apr be over 19% i think that is too high I went over the limit for a emergency but i think my apr is too high and right now i can't afford the monthly payments. i was very diligent but i had an emergency.. but should a student card be that high on a apr and if so how can I lower it. because i don't want to be delinquent just because i can't make the payments
19% is actually pretty low for someone just starting to build credit.

You can call the creditor and ask them for help, because the banks will take ANYTHING over NOTHING.

You may be able to lower the APR, or at least the minimum monthly payment, giving you some time to scrape up some cash to cut the balance down.
 01-13-2008, 12:30 AM         #87
TheLegazY 
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20, 655 and 8000 limit :/
 03-05-2008, 10:50 AM         #88
Grinning Genius 
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Ive recently got a "Pre Approved" credit card in the beggining of Jan. Ive heard these cards are a set up for failure but i decided to go with it anyway. After activating it i went on to spend to the $200 limit. Before i got my first bill, i was out of work and was unable to pay. Fast foward 3 months later i still havent payed at all being that i was out of work with no income. Im now employed and racked up $120+ in late fee but im able to pay. My question is, how badly affected is would my credit score be?
 9 years ago '05        #89
Jaiden05 23 heat pts23
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sh*t I am 23 and still can't get a real credit card. I only have my tution, Kay's jewlers card and a Closed account for a bill that I had seven years ago. Can someone help?


* Edit * I now have a HSBC Card with a 300 dollar limit at 14.9 % any help would be appercitated


Last edited by Jaiden05; 03-24-2008 at 12:53 PM..
 05-22-2008, 01:52 PM         #90
Wildskillz 
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don't use credit cards.
 8 years ago '04        #91
mpmastamind510 16 heat pts16
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got a 737 credit score.....

pay your bills on time and don't give your girlfriend a card..


heres a list of my cards i have:

wamu credit card
target
sears
macy's
best buy
samuel jewelers
american express blue cash
Victorias Secret
JCPenny
Amazon
Best buy rewardzone
circuit city


Last edited by mpmastamind510; 05-23-2008 at 04:14 PM..
 8 years ago '06        #92
bassy 23 heat pts23
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Last summer I had neither good nor bad credit.

I'm going to be finishing up college soon & am trying to move outta moms house as soon as I do.
So I went to the bank (Wachovia), told them I wanted to open a checking account.
So they open me a checking account and give me a debit card, the guy doing all of this tells me he can sign me up for a credit card to help build my credit.
So I do that.

A year later, my credit score is something like 700.
Oh & I'm using my credit card like crazy every month, I bet I spend anywhere from 200-500 every month on my card.
But I pay it instantly through the credit card website the beginning of every month.

And now I get like 10 different credit card offers in the mail every week.

But I like where I'm at and don't want to over do it.
 07-30-2008, 07:09 PM         #93
somethin1234 
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thanks gotta kno that
 8 years ago '08        #94
Blackty3088 
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thanx for the knowledge
 8 years ago '08        #95
El_Maravilloso1 
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being on the check system SUCKS!!!
 8 years ago '05        #96
MeziaaL 4 heat pts
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best thread on this site..
 8 years ago '04        #97
Kalon 4 heat pts
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what is it like 2+ years later and here is where I'm @:
Equifax: 677
Experian/Transunion: 752

Combined avg. 727

Best Buy Card: $1500 limit; no balance
Chase Student Card: $4300 limit; $110 balance
Best Buy RewardZone MasterCard: $3750 limit; $2717 balance (just bought my computer)

Student loans in good standing, not late.

Just purchased my 08 Altima in August

6 year loan:angry12: 6.14% interest @ $318 per month. I'm going to pay it off quicker. the $318 is very manageable.

Next on my list: A home/condo.

Next car will be copped cash. I only did this cause I needed a car, I got the exact car I wanted, I can afford it, and I need this as a stepping stone to buying a property/business.

I'm proud of my self financially but not academically
 11-19-2008, 05:43 AM         #98
China Man 
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I have a 700+ credit score with EQ and TU. I've never seen my EX score.

I started out with a Macys card $100.00 limit the second I turned 18. Then I moved onto Capital One...etc.

Use your CC, pay it off every month and you'll be fine.

If you have a 1000 limit, don't go using 999. According to some of the things I've read, you should use a very low percentage of your limit. If you want to charge a lot, get an AMEX card with virtually no credit limit.

Taking out a loan for a car or financing a car and paying on time every month will build your credit in no time.

The key is to pay every month and on time with the full amount.
 02-15-2011, 11:19 PM         #99
Fcuk Boy Music 
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do not sign up for multiple credit cards....it lowers your credit score.....everytime you sign up for one or try to sign up for one...


do not always check your credit score....that also lowers it everytime you check it...



also.....if you have a cc....buy big purchases....and pay it off quickly immediately....


be weary of identity theft...check your ssid....and also pay for the protection...


dont want people putting ccs in ya name or taking out loans in ya name....you will get screwed


AVOID DEPARTMENT STORE CREDIT CARDS......They have too much interest....they charge you extra every month...and ruin ya credit....hard to get rid of them too


also put a limit on yourself...and your credit card....if your young and got a cc.....put a 2,000 - 5,000 limit..maybe even less...depending on your needs, incomes and what you are using it for...

so that you dont overspend, put yourself in a debt bind....and destroy your credit...

put a daily limit and block on your credit...so you dont over spend 2,000 or 1,000...if you young...


I had an amex at 14, 15....that didn't let me go over 2,000....granted it was given to me by my parents.....but it had a daily limit and blockage...so you dont over spend and dont get into debt.


The better your credit, the faster you pay off things on time. The more credit card companies like Amex, Visa, MC, Discover are willing to give you that 20,000 - 10,000 dollar spending on your cc.
 6 years ago '06        #100
niceguy954 31 heat pts31
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^^ how did you set your cards to decline a purchase over a certain amount?
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