how to build good credit?

[Rahim]

if you have a cell phone plan under your name, make sure you continue to pay it on time. It will help you build good credit :thumb:

 

[Preach]

i probably have lousy credit. i think it has happened at least fifteen times that i was two months behind on my phone. i've had a couple of cases nearly go to court before i finally got them sorted.

the funny thing is, when i look back on it it's all stupid bullshit. i wouldn't pay the phone bill cause i had less money left than the bill would cost so i'd use the money on me instead and pay the bill on the next pay check. i also got into a tight situation a couple of times where i was owing people a lot of money and still had bunch of bills to pay. i used to order cds and movies online too, and i never used a visa until i turned 18. so they all came with bills that i prolonged before i paid.

i never once thought to call the people who had sent me bills to tell them the deal, that i'm out of money and need more time. if i had done that every time i would probably never have a problem on paper, and the only reason i didn't was stupidity and social phobia tendencies. i had a huge epiphany a year ago though, as far as such tendencies go. anyway, i have a wealthy family so it won't be a huge problem for me in the future, but it leaves a sour taste.

 

[S O F I]

i probably have lousy credit. i think it has happened at least fifteen times that i was two months behind on my phone. i've had a couple of cases nearly go to court before i finally got them sorted.

the funny thing is, when i look back on it it's all stupid bullshit. i wouldn't pay the phone bill cause i had less money left than the bill would cost so i'd use the money on me instead and pay the bill on the next pay check. i also got into a tight situation a couple of times where i was owing people a lot of money and still had bunch of bills to pay. i used to order cds and movies online too, and i never used a visa until i turned 18. so they all came with bills that i prolonged before i paid.

i never once thought to call the people who had sent me bills to tell them the deal, that i'm out of money and need more time. if i had done that every time i would probably never have a problem on paper, and the only reason i didn't was stupidity and social phobia tendencies. i had a huge epiphany a year ago though, as far as such tendencies go. anyway, i have a wealthy family so it won't be a huge problem for me in the future, but it leaves a sour taste.

See kids...this is what happens when you buy 'Pac rarez.

 

[dedbrd]

instead of getting a credit card that you can go buckwild with, get a gas card from bp or whatever the local gas place is, it builds your credit the same as a name card, but you can't buy cd's and clothes and shit with it to where a year later you are maxed out and in debt up to your ears...buy your monthly gas with the card, every time you get gas put that money to the side, when you get the statement just pay the total.

Although when buying my house the people said it is better to have a little money used up on the credit card, because that shows you use the credit and it makes companies want to spend there time on you instead of having 6 cards layin around that you never use.

If you have one card and are responsible with it you should have no trouble getting a car, but keep in mind, it is much easier to get financed for a new car or house than it is for a used one just for the fact the bank feels safer putting it's money up for something that has immediate value if you don't make the payments, they can turn around and sell it and not lose alot.

 

[_carmi]

if you have a cell phone plan under your name, make sure you continue to pay it on time. It will help you build good credit :thumb:

instead of getting a credit card that you can go buckwild with, get a gas card from bp or whatever the local gas place is, it builds your credit the same as a name card, but you can't buy cd's and clothes and shit with it to where a year later you are maxed out and in debt up to your ears...buy your monthly gas with the card, every time you get gas put that money to the side, when you get the statement just pay the total.

Although when buying my house the people said it is better to have a little money used up on the credit card, because that shows you use the credit and it makes companies want to spend there time on you instead of having 6 cards layin around that you never use.

If you have one card and are responsible with it you should have no trouble getting a car, but keep in mind, it is much easier to get financed for a new car or house than it is for a used one just for the fact the bank feels safer putting it's money up for something that has immediate value if you don't make the payments, they can turn around and sell it and not lose alot.

both very true.

pretty much anything you have a contract and pay monthly will show on your credit bureau.

 

[PuffnScruff]

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

we've got the FACT Act
Fair and Accurate Credit Transactions Act - Wikipedia, the free encyclopedia

 

[_carmi]

we've got the FACT Act
Fair and Accurate Credit Transactions Act - Wikipedia, the free encyclopedia

we don't have that in Canada.

 

[Bender]

My situation is the opposite of rays. I have excellent credit, but no car.

 

[Shadows]

My situation is the opposite of rays. I have excellent credit, but no car.

That got me thinking, i got a car with cash only. Does it show up on my credit even though i didnt make "monthly" payments?

 

[Da_Funk]

That got me thinking, i got a car with cash only. Does it show up on my credit even though i didnt make "monthly" payments?

I doubt it. Unless you're pretty rich buying a car with cash will probably look suspicious

 

[Bender]

I've never had a problem with credit, but then I have always been in full time employment. I get mail from my bank offering me loans. Don't you get junk mail ray, offering you credit cards/loans and shit? I throw that kinda stuff in the trash on the regular.

 

[S O F I]

I've never had a problem with credit, but then I have always been in full time employment. I get mail from my bank offering me loans. Don't you get junk mail ray, offering you credit cards/loans and shit? I throw that kinda stuff in the trash on the regular.

Try recycling.

 

[Bender]

^ you know what sofi, I used to recycle all my beer cans until I got attacked by all the wasps in the can recycle bin. Then I fucked that shit off, it aint worth a beer sting

 

[_carmi]

That got me thinking, i got a car with cash only. Does it show up on my credit even though i didnt make "monthly" payments?

Nope it doesn't. It has to be a contract where this is some kind of regular payment (monthly, weekly, biweekly, etc).

 

[Da_Funk]

^ you know what sofi, I used to recycle all my beer cans until I got attacked by all the wasps in the can recycle bin. Then I fucked that shit off, it aint worth a beer sting

Just rinse your cans out quickly before you throw em in the recycling.

 

[Bender]

Just rinse your cans out quickly before you throw em in the recycling.

no, in summer the can bin is a fucking wasps nest.

 

[raywaters11]

yeah i dont wanna be stung either so fuck the planet i'm allergic to wasps..

i get a lot of stuff about credit cards and blah blah blah but like its been mentioned, i dunno if i could trussed [haha] myself wit a credit card, i'm bad with managing money and an excessive impulse buyer... im such a girl

 

[Da_Funk]

You guys are fuckin pussies. If a wasp comes at you just swat it away ffs. And yeshua why do you think the wasps are around your recycle bin? Because of the sugar leftover in the bottom of your pop/beer cans. Rinsing them out before you throw them out will greatly reduce the number of wasps

 

[raywaters11]

swat them away and get stung and my hand swell up to the size of rahims head? fuck that

ruins my sex life AND gets me a hospital bill

 

[Bender]

i get a lot of stuff about credit cards and blah blah blah but like its been mentioned, i dunno if i could trussed [haha] myself wit a credit card, i'm bad with managing money and an excessive impulse buyer...

what's the point of being able to have credit and not using it, just wondering. As soon as I get my drivers licence I'm phoning my bank, or be making other credit arrangements such as finance. I will probably take the finance option when buying myself a new motor, my instinct tells me that a small company will give me a better interest rate than my bank. rather than taking a loan out and using it to buy a new ride. I wouldn't use my credit card for this purpose.