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Establishing and Building Good Credit


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 2 years ago '12        #121
Di Warlord 8 heat pts
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I'm on credit karma, and my secured card also has a credit score monitor or whatever

my experian credit score hasn't moved since February, even though I pay off whatever is on the card within a day or two of making the initial charge

TU showing 708 though Experian showing 686 thinking about applying for a CapOne Venture card for a lot of international traveling I'm gonna be doing within the next month, creditkarma says I have a good chance of getting it, and I've been banking with CapOne since 07-09

 2 years ago '05        #122
Danger Zone 60 heat pts60
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Credit score was in the 550s last june. Now my FICO score is 712 :winning:

TU 683

EQ 676

Just added an American Express blue cash card along with my others.

 2 years ago '07        #123
Optimus Crime 5 heat pts
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 Fu7urE101 said
I have about 3 cards now. A mastercard, visa, and a Gap card all of which I pay off about 3-4 days after I get the statment. But I have a friend who says that might not be enough to really boost my credit score. He said I may have to take out a loan or something.
let one or two of those cards sit at about 5-7% of the limit.

Got a $5000 limit on one of my cards. I bring the balance up to ~$500-600.. Then pay it down to ~$200-250 every month.

29 with a 780 beacon


Last edited by Optimus Crime; 04-17-2016 at 06:32 PM..

 2 years ago '04        #124
SiXkIlS 4 heat pts
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If you're starting a credit or repairing a credit.

First of you're repair trying to get all the negative remarks on your credit.

As far as raising the score:

I started off with a $300 capital one card with a credit rating off 560ish.
I bought $180 worth of things (fuel, etc).
Set up a monthly minimum payment to be automatically withdrawn. After 6 months of not missing a payment they bumped me up to $800.
Did the same, but also got a Barclays card. Same set up, automatic min payment to be with drawn, balance below 50%. Within a year and a half it bumped my credit line automatically over time to now over 5-6k. Every year I try to remove anything negative on my credit report from previous years, but in the meantime my credit has been on auto cruise bumping up. In a year and a half I was at 710.

It takes time to do it, but easiest way I found was to do let it do its thing automatically and I don't depend on credit, 90% of anything I own is paid for by cash, but credit is very important to have for houses, investments, etc.

Majority of people want a good credit just to have high balances on credit cards by buying things they literally can't afford. If you're not one of those people just put it on cruise with min automatic payments, your credit line will automatically increase, and all these things increase your score.

 2 years ago '04        #125
pocketchange 170 heat pts170
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So my credit is almost at 700 finally got a credit card I wasn't a big fan of credit cards but I decided to get one to build my credit.

My question is, how many credit cards is a good number to have? I barely use it and keep it under 30%. I'm thinking a minimum of 2 cards and I can sort of use both cards to pay off each other when necessary.

Should I grab another card lot should I continue to make payments on this card and just wait a little to get another one?

 2 years ago '15        #126
kobraman 1 heat pts
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 JnJ4eva said
I'm new to this credit thing. is Credit one a good way to start building credit?
That was one of my first ones the key is to not buy sh*t you cant afford and keep the limit down but check the interest rates off all cards before opening up a credit card I can tell you right no the interest rates at capital one suck they tax me a good $35 a month on interest alone. first premier charges a monthly fee of $7 and a $49 annual fee which isn't bad but if you can get a credit card through your credit union I think you will be better off if you ask me

 pocketchange said
So my credit is almost at 700 finally got a credit card I wasn't a big fan of credit cards but I decided to get one to build my credit.

My question is, how many credit cards is a good number to have? I barely use it and keep it under 30%. I'm thinking a minimum of 2 cards and I can sort of use both cards to pay off each other when necessary.

Should I grab another card lot should I continue to make payments on this card and just wait a little to get another one?
its all up to you I got a dozen im trying to scale back sometimes its better to just have one with a high a.ss credit limit if you do grab one make sure it has a low interest rate and I can't even close none of mine cuz you lower your credit score when you do that so I just use one a week and pay it off on payday but if anybody interested in hearing my credit story im glad to tell it I done destroyed and rebuild my credit twice that sh*t will come through for you in ways you could never imagine

 2 years ago '04        #127
pocketchange 170 heat pts170
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 kobraman said
That was one of my first ones the key is to not buy sh*t you cant afford and keep the limit down but check the interest rates off all cards before opening up a credit card I can tell you right no the interest rates at capital one suck they tax me a good $35 a month on interest alone. first premier charges a monthly fee of $7 and a $49 annual fee which isn't bad but if you can get a credit card through your credit union I think you will be better off if you ask me



its all up to you I got a dozen im trying to scale back sometimes its better to just have one with a high a.ss credit limit if you do grab one make sure it has a low interest rate and I can't even close none of mine cuz you lower your credit score when you do that so I just use one a week and pay it off on payday but if anybody interested in hearing my credit story im glad to tell it I done destroyed and rebuild my credit twice that sh*t will come through for you in ways you could never imagine
At the moment I currently have only a credit limit of $1000. I wouldn't mind having a credit line of 5k just to feel more comfortable. I made a couple sacrifices and at the moment I have two cars (paid off) and hardly any bills. The majority of my pay checks come to me. So, I'm in saving mode and building my credit. I used to have my money right and didn't even think about using credit or any of this stuff. But after a couple bad investments I'm building my capital back up.

 2 years ago '15        #128
kobraman 1 heat pts
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 pocketchange said
At the moment I currently have only a credit limit of $1000. I wouldn't mind having a credit line of 5k just to feel more comfortable. I made a couple sacrifices and at the moment I have two cars (paid off) and hardly any bills. The majority of my pay checks come to me. So, I'm in saving mode and building my credit. I used to have my money right and didn't even think about using credit or any of this stuff. But after a couple bad investments I'm building my capital back up.
if u can pay off a car note thats a even better line of credit than a credit card on the scale credit cards are the lowest line of credit one can have then car notes, personal loans then mortgage and you on top i got one with a 2800 limit and one with a 2200 limit

 2 years ago '04        #129
pocketchange 170 heat pts170
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 kobraman said
if u can pay off a car note thats a even better line of credit than a credit card on the scale credit cards are the lowest line of credit one can have then car notes, personal loans then mortgage and you on top i got one with a 2800 limit and one with a 2200 limit
Yeah, but I paid cash. Don't really feel comfortable getting a car note at the moment. Maybe in the future. Ain't ready to take on that type of payment at the moment might move to a new city and make a transition getting a new job and wouldn't want to fall behind in any payments while doing that.

 2 years ago '15        #130
kobraman 1 heat pts
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 pocketchange said
Yeah, but I paid cash. Don't really feel comfortable getting a car note at the moment. Maybe in the future. Ain't ready to take on that type of payment at the moment might move to a new city and make a transition getting a new job and wouldn't want to fall behind in any payments while doing that.
I wouldn't if i were you it sounds like you on the right path these days its damn near impossible to get a mortgage with all the credit they give out to people if u can keep a credit card even get a personal loan and pay it off even get another card just dont get carried away cuz its hard managing 10 of them sh*ts I keep um at the house and dont really use um I got most of um paid except the ones with the high balances but ill have that paid within the next few months and then Ill knock off my student loans and ill be set for life with no debt and can get a piece of the american dream my nig

 2 years ago '06        #131
JnJ4eva 1 heat pts
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Ok. so I'm getting ready to go to Capital One and asked for a secured card?
I know this is going to sound repetitive but what exactly is a secured card?
I put $1,000 on the card...and then what?
Also, what happens after a secured card.. like what are the steps?
Damn it, why they dont teach this is in school? lol

Last question, what is considered good or bad credit?
500 and down=bad
600 and up=good?

 2 years ago '11        #132
atlsfinest1083 
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My credit was horrible a couple years ago. I was able to raised in by 168 points. I didn't pay for any programs. I just did things that anyone can do. Here is a post I wrote about it. .

 2 years ago '15        #133
kobraman 1 heat pts
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 JnJ4eva said
Ok. so I'm getting ready to go to Capital One and asked for a secured card?
I know this is going to sound repetitive but what exactly is a secured card?
I put $1,000 on the card...and then what?
Also, what happens after a secured card.. like what are the steps?
Damn it, why they dont teach this is in school? lol

Last question, what is considered good or bad credit?
500 and down=bad
600 and up=good?
a secured credit card si a card you put $ on to establish credit and you use it just like a credit card except its like a loan to yourself instead of the bank loaning you a line of credit. to answer your second question any credit score above 650 is considered good.

 atlsfinest1083 said
My credit was horrible a couple years ago. I was able to raised in by 168 points. I didn't pay for any programs. I just did things that anyone can do. Here is a post I wrote about it. .
I raised my sh*t by just paying all my sh*t in collections

 1 year ago '15        #134
Truthseeker007 
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A great to build credit is by leasing or financing a car...your credit score will instantly shoot up 500-650.

Get a credit card but never go over 30% of your limit. That is because your credit score is is also determined by how much money you use each month out of your available balance. Even if you pay it back on time every month. A credit utilization of 30% or less is the magic number to building a higher credit score.

 1 year ago '04        #135
Kliq 181 heat pts181
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 kobraman said
a secured credit card si a card you put $ on to establish credit and you use it just like a credit card except its like a loan to yourself instead of the bank loaning you a line of credit. to answer your second question any credit score above 650 is considered good.



I raised my sh*t by just paying all my sh*t in collections
did you pay the full amounts or did you reach a pay for delete deal? were the charges removed completely from your credit or just marekd as "collections-paid"?

 1 year ago '05        #136
Sivraj 352 heat pts352
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I'm at 776. For the life of God I can't get to 800.

 1 year ago '09        #137
Baynut 5 heat pts
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 Sivraj said
I'm at 776. For the life of God I can't get to 800.
I'm bout to do you a favor. If you do the following, your score will jump 15-20 points. It's quick and easy.

First, get your credit reports for each bureau. I recommend , it's only $1 and it's the real real, not that FAKO sh*t(credit karma). Once you got the reports pay close attention to the personal information section.

I'm willing to bet there are errors on each one. Whether it's your name spelled wrong, wrong name, the address has a spelling error or is old, etc. Call each credit bureau and use the same name and address for each one. Make sure it's spelled exactly the same for each bureau. If there are any old names or addresses say you want them removed and only 1 name, 1 address and 1 employer listed. The employer is optional, if it's empty for all 3 bureaus leave it blank, or if you just want it blank say you want your employer removed. If they ask why just say you don't work for them anymore.

If you don't want to call, you can fax them a letter asking to update the personal information. If your driver's license has your name/address spelled exactly how you want it, you can fax them a copy of that as well and it will expedite the process.

The point is to have every credit bureau list your personal information exactly the same. Once all 3 bureaus update to the same information, your score will jump up instantly. If you do this, let us know your results and thank me later.


Last edited by Baynut; 05-31-2017 at 05:53 PM..

 1 year ago '05        #138
Sivraj 352 heat pts352
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 Baynut said
I'm bout to do you a favor. If you do the following, your score will jump 15-20 points. It's quick and easy.

First, get your credit reports for each bureau. I recommend , it's only $1 and it's the real real, not that FAKO sh*t(credit karma). Once you got the reports pay close attention to the personal information section.

I'm willing to bet there are errors on each one. Whether it's your name spelled wrong, wrong name, the address has a spelling error or is old, etc. Call each credit bureau and use the same name and address for each one. Make sure it's spelled exactly the same for each bureau. If there are any old names or addresses say you want them removed and only 1 name, 1 address and 1 employer listed. The employer is optional, if it's empty for all 3 bureaus leave it blank, or if you just want it blank say you want your employer removed. If they ask why just say you don't work for them anymore.

If you don't want to call, you can fax them a letter asking to update the personal information. If your driver's license has your name/address spelled exactly how you want it, you can fax them a copy of that as well and it will expedite the process.

The point is to have every credit bureau list your personal information exactly the same. Once all 3 bureaus update to the same information, your score will jump up instantly. If you do this, let us know your results and thank me later.
I'll definitely look into that.

 1 year ago '05        #139
rotstreetz 
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 atlsfinest1083 said
My credit was horrible a couple years ago. I was able to raised in by 168 points. I didn't pay for any programs. I just did things that anyone can do. Here is a post I wrote about it. .
"Add Extra Money
I also started adding extra money to all my debts. I’m not sure how much that helped, but it was something that I had to do."

Could you explain what you meant by adding extra money? Did you mean you requested an increase on your credit lines?

 1 year ago '11        #140
atlsfinest1083 
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If I had a credit card bill for $50, pay $100 to speed the process up.

 1 year ago '04        #141
Youngporter 1 heat pts
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 Baynut said
I'm bout to do you a favor. If you do the following, your score will jump 15-20 points. It's quick and easy.

First, get your credit reports for each bureau. I recommend , it's only $1 and it's the real real, not that FAKO sh*t(credit karma). Once you got the reports pay close attention to the personal information section.

I'm willing to bet there are errors on each one. Whether it's your name spelled wrong, wrong name, the address has a spelling error or is old, etc. Call each credit bureau and use the same name and address for each one. Make sure it's spelled exactly the same for each bureau. If there are any old names or addresses say you want them removed and only 1 name, 1 address and 1 employer listed. The employer is optional, if it's empty for all 3 bureaus leave it blank, or if you just want it blank say you want your employer removed. If they ask why just say you don't work for them anymore.

If you don't want to call, you can fax them a letter asking to update the personal information. If your driver's license has your name/address spelled exactly how you want it, you can fax them a copy of that as well and it will expedite the process.

The point is to have every credit bureau list your personal information exactly the same. Once all 3 bureaus update to the same information, your score will jump up instantly. If you do this, let us know your results and thank me later.
Good sh*t. I need my score to jump up my like 100 points by April. Any advice??? I want to buy a house by April latest next year summer time. Was going to do Jacob white but I have those letters so I was thinking to do it myself in the meantime now that I have time

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