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Old 09-04-2004, 06:00 PM  
garett
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Join Date: Mar 2004
Posts: 683
After paying her off her debts 100% (#1 priority) she should get a secured credit card (a card where you pay a security deposit, which sits in an interest bearing account until you cancel your card with the balance paid in full). Then she should just start using it for all her normal expenses... groceries, bills, rent/mortgage etc.

With all the shit you spend monthly she could be putting $1k - $2k on the credit card each month and paying it off in full without incurring any interest .. and thus building positive credit VERY fast.

After a year or two she can start applying for real credit cards. As soon as she's approved for one she can cancel the secured card and get her deposit back, plus interest. Then it's just a matter of repeat. The more you borrow and pay back on time, the more you build credit.

My mother had a horrible credit rating .. she had declared bankruptcy at one point .. and this is how she rebuilt her credit. It's also what I'm doing to build credit since I have none.
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