how to build good credit?

[raywaters11]

i have only had a job six months, i have bad, if not any, credit, and i wanna know how to build up my credit so the bank will give me a loan for a car cuz my car is shit.

any ideas? i gotta checking account with the bank and i have been paying on a loan for nearly three years, always on time, but the load is in my moms name, not mine, so its only building her credit.

 

[dillaxx]

i have only had a job six months, i have bad, if not any, credit, and i wanna know how to build up my credit so the bank will give me a loan for a car cuz my car is shit.

any ideas? i gotta checking account with the bank and i have been paying on a loan for nearly three years, always on time, but the load is in my moms name, not mine, so its only building her credit.

Get a credit card and buy small things that you know you have the money for. If you do that for a little bit, it'll start to help.

 

[raywaters11]

thats what someone recommended but i wasnt sure if he was full of shit, now that ive heard it from two ppl, seems a bit more believable. gracias.

small things like... gas, food, etc? like shit that i'd buy with cash or checks anyways?

 

[Duke]

Get into mad debt, become an alcoholic, commit suicide.

Or you can just not go into debt over your simply, barbaric, materialistic needs, be satisfied with your current motor and continue to stay alive.

Honestly, though, if you can't really easily afford it, it may not be such a brilliant idea to want a new car....just saying...

 

[raywaters11]

duke, are you out to be a dick today or what? second time in a row you've been on my shit trying to criticize shit. fuck off.

my "current motor" is fucked. bumper is fallin off, gets shit for gas mileage now, hood is all fucked up, its bout as aerodynamic as a house. you're not my dad, and you don't pay my bills, so, mind ya business.

 

[Duke]

On your dick? I corrected you on your spelling error because you correct others on theirs. Then making the same mistakes makes you look like a putz. Hence.

Here I simply stated what I think of people getting into debt over things they don't really need that much.


I'm not your father, and I don't pay your bills. But honestly, kiddo, if you want people to mind their own business THEN KEEP YOUR FUCKING BULLSHIT OFF THE INTERNET.

Jesus. What is it with people on the net these days? They post the most trivial nonsense about their lives and if someone replies negatively we should mind our own business? Then don't come on the net with your crap, man.

 

[raywaters11]

On your dick?

Sentence fragment

But honestly

Started a sentence with "but"

Jesus.

Sentence fragment

I asked for advice, you gave criticism. There is a distinct difference there, sweetheart. On Yeshua's post, he was talking about an english teacher then made an english error, I found irony in that, so I corrected it. If you want to troll my posts until you find an error, go for it. If thats all the satisfaction you find in life, be my guest, hun.

I really don't need the rant at the end either. You're calling me kiddo? You're only a handful of months older than i am.

 

[linx]

Someone always gotta come in and ruin shit saying something that has nothing to do with anything, heh.

Anyway, I was wondering the same thing at one point. I'm 23 (soon to be 24) and I want to have good credit for the future. In case I want to buy a house or anything else, ya know? I started working a full time job at 17 I believe and at that point, I didn't think much about my credit. Eventually I got a better job and I started to think about it. I don't like the idea of having credit cards. Some of my family has gone that route and has paid for it. Now they owe all kinds of money for that shit. That's not what I want to do. If I can't afford to buy something, i'm fine with not buying it.

That suggestion dilla gave was a good one. I've heard that from people as well. I haven't done it yet though. Only cause I really don't want a credit card. But if you get it and do what he said, you'll be good and you'll build up some credit at the same time. I needed a new computer, so I went to this place called Aarons and I pay so much a month on it. I did that instead of just buying one. So that should help me in a positive way once i'm done paying that off. I've never missed a payment and I don't plan to. That's another thing.. I don't miss payments on ANY THING. Not my phone, not my car, not my computer, insurance.. any thing.

I just got a brand new 2008 car back in April. I had a 2002 before that which I financed about a year and a half before. I didn't really have much credit and I was fairly new at my job still, so I didn't have much of a choice. I got help from a co-signer and I got it. I had nothing but problems with the car though and I felt after a year and a half of having it (and throwing a few THOUSAND into it), I should get rid of it.

I didn't expect to get a brand new car after that, but it seemed affordable after I did the math. Plus we all know starting over with a brand new car is MUCH better than starting with a used one. I pay a lot for my car plus insurance each month, but it works out ok for me anyway. I am in a serious relationship and I figured if I was gonna get a new car, it would be best off for me to get it now. It would definitely help my credit in the future. I think at one point too, the bank I got my last car loan from got bought by another bank and that counted as my car loan being paid for somehow. Then when I traded it in to get this new car, it was paid off again. So from what I hear and understand, that worked out well for me.

I do wanna see what my credit score is though. Sorry that was kind of long.

 

[raywaters11]

haha i actually read it all tho linx

yeah i have been a littly iffy on getting a credit card because i am bad for impulse buying, and if i had a credit card and no cash and i saw something i wanted... bad combination.

i heard financing a car always takes a turn for the worse, so i have veered away from that as well. it sounds like we are about in the same situation, with the relationship and job stuff. i got outta my dead end job at dominos and i have a state job with good insurance now so medical bills arent a big deal. only bills i would have would be the new car payment, which could be anywhere from 250-400 a month, and insurance in my parents name, which would hopefully run me less than 200 monthly.

the guy who mentioned the credit card idea before dilla did, told me to finance speakers or something from somewhere such as home depot and pay them off. just small things that you finance and still get paid off in a few months or a month or whatever and that should help you build it up. i'm not big on speakers but i'm sure i could find somethin like that.

what about those "loan" places where you borrow 200 and pay back 203, does that build up on your credit?

 

[Duke]

Sentence fragment


Started a sentence with "but"


Sentence fragment

I asked for advice, you gave criticism. There is a distinct difference there, sweetheart. On Yeshua's post, he was talking about an english teacher then made an english error, I found irony in that, so I corrected it. If you want to troll my posts until you find an error, go for it. If thats all the satisfaction you find in life, be my guest, hun.

I really don't need the rant at the end either. You're calling me kiddo? You're only a handful of months older than i am.

"Sentence fragment" isn't a full sentence either. You're just grasping at straws here. I'm not writing an application letter here, I can use sentence fragments, no-verb constructions and start with "but" as much as I want to.

You saying "costed" is just plain ridiculous, especially considering it's your first language and you get on other people's cases for the same shit.

Criticism = advice that people don't want to hear. The fact you're throwing a semi-hissy fit because some Dutch asshole is saying not to buy a new car might say more about you than the other way around.

 

[_carmi]

Best way to build good credit is either

1 - Get a credit card, get a limit that isn't too high (if you have no credit, they will not give you a high limit anyways although that could depend as well of your age and how much $$$ you make a year). Then use it, but do not max it and do not go overlimit and then make your min payments (or bigger payments if you can). Min payments are cheap, but my advice is make the biggest payments you can because you don't want to pay interest over interest every month and min payments usually are only made up of interests + whatever $$ amount. (At the bank I work for, min payments = interests + 10$)

OR

2 - Get those things you pay in 12 months and make your payment. It's great because in those financing things you WANT to make your min payment at least because if not you get charged major interest. Plus 12 months is enough to build yourself some good credit.

Do not forgot that it takes 2-3 months after you got your credit before you are not considered a n00b anymore on your credit bureau.

Oh and do not get too much credit. Why? Because then if you apply for a car loan, your bank or whoever finances you will look at how much credit you have in your hands that you could use up eventually. They will look at it this way:

If you have 1000$ limit on this credit card and another 500$ limit on another one. They will not look at how much credit you used, but how much you have access to. So for them you have 1500$ of credit and they will see how much you make a year and % it.

 

[dillaxx]

Hmm, looks carmi's side-job is a debt-collector.

 

[Flipmo]

It is her job lol.

 

[PuffnScruff]

you should run a credit report on yourself, they are free. also find out what your credit score is from the 3 credit report companies. a car loan is a great way to build credit. if the bank will not give you in your name i'm sure they will give you a loan if you have someone who will co-sign. plus if the person that co-signs with you has good credit it will give you lower rates and payments.

 

[linx]

you should run a credit report on yourself, they are free.

Nah, they say that but they aren't free.. lol.

 

[S O F I]

What Puff said.

 

[_carmi]

Hmm, looks carmi's side-job is a debt-collector.

It is her job lol.

lol yeah I am. Collection agent for a bank yup yup yup. Mortgages, credit lines, car loans, bank account overdrafts, credit card, personal loans, I collect all of that.

you should run a credit report on yourself, they are free. also find out what your credit score is from the 3 credit report companies. a car loan is a great way to build credit. if the bank will not give you in your name i'm sure they will give you a loan if you have someone who will co-sign. plus if the person that co-signs with you has good credit it will give you lower rates and payments.

If you never had credit there is no credit report for you. Therefore it makes it very hard to get big loans because you have no previous history so they don't know your payment behavior.

I don't know about where you live, but I know here credit bureau reports are not free.

 

[Shadows]

Oh shit, look @ Carmi, debt collector...with a Joker Avatar...(SCARY!)

anyway,

dont buy dumb shit bro. Go to a store you never go to really, only like on annual occasion, and buy shit and make payments that you can make online. NEVER go back to the store or you will get the urge to freaking ring it up. (Hence, a store you rarely go to.)

Also, be prepared with a lump some of money. I.E. sometimes you need to pay a huge amount of whatever your getting, and you dont want to apply for a card and not get it....it looks bad.

Then eventually, get a card in your banks name. Allow the bank to trust YOU.

In other thought, have money in the bank for as long as you can, (right b4 you pay your bills) so that way it looks like you keep a lot in there. (that's what i do)

 

[_carmi]

apparently I'm one hell of a collector. A hidden talent perhaps.

 

[raywaters11]

"Sentence fragment" isn't a full sentence either. You're just grasping at straws here. I'm not writing an application letter here, I can use sentence fragments, no-verb constructions and start with "but" as much as I want to.

You saying "costed" is just plain ridiculous, especially considering it's your first language and you get on other people's cases for the same shit.

Criticism = advice that people don't want to hear. The fact you're throwing a semi-hissy fit because some Dutch asshole is saying not to buy a new car might say more about you than the other way around.

yeah but i was just pointing out your sentence fragments, not writing a sentence about them. when a teacher corrects a paper they dont write a paragraph about every mistake.

costed was an honest mistake, i'm not trying to justify it and you keep tugging at it, drop that one.

semi-hissy? this is nothing... shoulda read my posts after my ban...

some dutch asshole... the only true thing you've said on here today.... thought u put me on ignore anyhow?

NEVER go back to the store or you will get the urge to freaking ring it up. (Hence, a store you rarely go to.)

lmao thats genius...