Best way to build credit? - GoFuckYourself.com

Ohm · 07-04-2006, 12:57 PM

I don't have bad credit but my problem is that I have no credit. My credit beacon score is 580 which is extremely high risk. I can't get approved for a credit card and am stuck trying to get a secured Mastercard. I've heard that secured cards like that actually hurt your credit.

Is there any other ways I can establish some credit? This shit seems impossible!

2HousePlague · 07-04-2006, 12:59 PM

borrow >> repay

2hp

Tom_PM · 07-04-2006, 01:00 PM

nah I dont think that ONE secured card hurts. Get one, use it once a month, pay it PROMPTLY and perfectly on time, every single time. Not only will they let you get your deposit back in a year or so (check terms for that info), but it helps you establish credit worthiness. Plus pay every bill on time, every time.

Vendzilla · 07-04-2006, 01:01 PM

with a 580, it will be hard to buy anything, look for a place with revolving credit to buy something and then pay it off fast, make sure they report, secured cards are ok, but only for 2 years, after that dump them

butterflybucks · 07-04-2006, 01:04 PM

Small loan, repay it

07-04-2006, 01:09 PM

very easy to get store cards to Macys, Express, JCrew, etc...go where u usually buy clothes and always use your card when u buy clothes.

Ohm · 07-04-2006, 01:15 PM

My girlfriend has great credit. If she applies for a credit card and puts my name on the account do I get credit as well?

Martina Warren · 07-04-2006, 01:19 PM

My friend had a similar problem and built up her credit with store cards

Validus · 07-04-2006, 01:54 PM

Get 3K, go to the bank, take out a loan for 1500, use the other 1500 as a security and reply the 1500. Do this a few time sand you should be good to go.

MaddCaz · 07-04-2006, 01:55 PM

credit cards are the devil's tool!

OG LennyT · 07-04-2006, 02:01 PM

Quote:

Originally Posted by PR_Tom

nah I dont think that ONE secured card hurts. Get one, use it once a month, pay it PROMPTLY and perfectly on time, every single time. Not only will they let you get your deposit back in a year or so (check terms for that info), but it helps you establish credit worthiness. Plus pay every bill on time, every time.

exactly right.

Very important tip also: My mortgage broker advised me to keep all credit cards at below 50% of their balance - very underrated credit tip

OG LennyT · 07-04-2006, 02:02 PM

Quote:

Originally Posted by Ohm

My girlfriend has great credit. If she applies for a credit card and puts my name on the account do I get credit as well?

No, its still her acct... but I hope she thinks twice about doing this for you

Phoenix · 07-04-2006, 02:07 PM

Quote:

Originally Posted by Validus

Get 3K, go to the bank, take out a loan for 1500, use the other 1500 as a security and reply the 1500. Do this a few time sand you should be good to go.

if they let me do this..i shall try

zigx · 07-04-2006, 02:20 PM

Quote:

Originally Posted by Validus

Get 3K, go to the bank, take out a loan for 1500, use the other 1500 as a security and reply the 1500. Do this a few time sand you should be good to go.

this is a Very good comment...

my mom did this for me RIGHT when i turned 18 and wow it helped a LOT.... im 23 and thats the only credit i have besides cingular cell phone and 1 macys card...... i was able to get a home loan and buy a condo 1 year ago with a credit score the lenders told me was very good for my age.

The loan she set up was for around 30k if i remember right... so the total amount of the loan might have helped but as this was really the only 'credit' on my credit report i think it helped a Lot. good luck man.

dissipate · 07-04-2006, 02:21 PM

Quote:

Originally Posted by dvd316

exactly right.

Very important tip also: My mortgage broker advised me to keep all credit cards at below 50% of their balance - very underrated credit tip

You're better off at 20% actually

Validus · 07-04-2006, 02:22 PM

Quote:

Originally Posted by zigx

this is a Very good comment...

my mom did this for me RIGHT when i turned 18 and wow it helped a LOT.... im 23 and thats the only credit i have besides cingular cell phone and 1 macys card...... i was able to get a home loan and buy a condo 1 year ago with a credit score the lenders told me was very good for my age.

The loan she set up was for around 30k if i remember right... so the total amount of the loan might have helped but as this was really the only 'credit' on my credit report i think it helped a Lot. good luck man.

Yea, the higher the amount the better it is. So, yea.

crockett · 07-04-2006, 02:26 PM

worst case get a high interest auto loan if you have too. You can get a car loan with shit credit just because they have something they can repo. Of course only get it if you can afford it, nothing could be worse than buying something and not being able to make the payments on time.

Even if it's 20%+ interest take it, then grin and bare it for a year then refinance it if it's not paid off by that time. I just went through the same kinda issues over the last few years and buying my Tacoma truck help my credit out a hell of a lot. To the point I can buy a house now with no real issues.

Nothing you can do will solve the issue fast, it's a long term process. I wouldn't take a secured card but to start if you have to take one with a yearly fee.

avalanche · 07-04-2006, 02:31 PM

Go to Capital One. They'll give almost anyone a card....

OG LennyT · 07-04-2006, 02:35 PM

Quote:

Originally Posted by dissipate

You're better off at 20% actually

depends on your credit line. If you only have a 300 dollar secured Visa (which is what we were referring to), than 20% will give you 60 bucks.

scottybuzz · 07-04-2006, 02:37 PM

owwwwwwwwwwwwwwwww pay back 90% loan // hahaha rofl

07-04-2006, 12:57 PM	#1
Ohm So Fucking Banned Join Date: Jun 2006 Posts: 128	Best way to build credit? I don't have bad credit but my problem is that I have no credit. My credit beacon score is 580 which is extremely high risk. I can't get approved for a credit card and am stuck trying to get a secured Mastercard. I've heard that secured cards like that actually hurt your credit. Is there any other ways I can establish some credit? This shit seems impossible!

07-04-2006, 12:59 PM	#2
2HousePlague CURATOR Join Date: Jul 2004 Location: the attic Posts: 14,572	borrow >> repay 2hp __________________ tada!

07-04-2006, 01:00 PM	#3
Tom_PM Porn Meister Industry Role: Join Date: Feb 2005 Posts: 16,443	nah I dont think that ONE secured card hurts. Get one, use it once a month, pay it PROMPTLY and perfectly on time, every single time. Not only will they let you get your deposit back in a year or so (check terms for that info), but it helps you establish credit worthiness. Plus pay every bill on time, every time. __________________ 43-922-863 Shut up and play your guitar.

07-04-2006, 01:01 PM	#4
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	with a 580, it will be hard to buy anything, look for a place with revolving credit to buy something and then pay it off fast, make sure they report, secured cards are ok, but only for 2 years, after that dump them __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that

07-04-2006, 01:04 PM	#5
butterflybucks Butterfly Bucks Industry Role: Join Date: Sep 2005 Location: Bangkok Posts: 1,422	Small loan, repay it __________________ 100% Real Thai Girls - Tiniest Pornstar in the world Thainee.com & Dream Teen Tussinee.com Asian Teens, Asian EMO, Asian G/Fs THAI GIRLS WILD

07-04-2006, 01:09 PM	#6
LilBro Guest Posts: n/a	very easy to get store cards to Macys, Express, JCrew, etc...go where u usually buy clothes and always use your card when u buy clothes.

07-04-2006, 01:15 PM	#7
Ohm So Fucking Banned Join Date: Jun 2006 Posts: 128	My girlfriend has great credit. If she applies for a credit card and puts my name on the account do I get credit as well?

07-04-2006, 01:19 PM	#8
Martina Warren Confirmed User Join Date: Mar 2004 Location: Porn Valley, CA ....... ICQ: 197423603 Posts: 1,206	My friend had a similar problem and built up her credit with store cards __________________ MARTINA WARREN : FORMER PENTHOUSE PET OF THE YEAR FOR 2005

07-04-2006, 01:54 PM	#9
Validus Confirmed User Industry Role: Join Date: Jul 2001 Location: Calgary, Canada Posts: 4,012	Get 3K, go to the bank, take out a loan for 1500, use the other 1500 as a security and reply the 1500. Do this a few time sand you should be good to go.

07-04-2006, 01:55 PM	#10
MaddCaz Confirmed User Join Date: Mar 2006 Location: Illinois Posts: 9,483	credit cards are the devil's tool! __________________ BigCocks.com - MatureWomen.com - Tranny.com - DrunkGirls.com - TeenGirls.com - MonsterCock.com and many more... Click here to see them all!

07-04-2006, 02:26 PM	#17
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,818	worst case get a high interest auto loan if you have too. You can get a car loan with shit credit just because they have something they can repo. Of course only get it if you can afford it, nothing could be worse than buying something and not being able to make the payments on time. Even if it's 20%+ interest take it, then grin and bare it for a year then refinance it if it's not paid off by that time. I just went through the same kinda issues over the last few years and buying my Tacoma truck help my credit out a hell of a lot. To the point I can buy a house now with no real issues. Nothing you can do will solve the issue fast, it's a long term process. I wouldn't take a secured card but to start if you have to take one with a yearly fee. __________________ In November, you can vote for America's next president or its first dictator.

07-04-2006, 02:31 PM	#18
avalanche Confirmed User Industry Role: Join Date: Feb 2005 Location: SoCal Posts: 1,922	Go to Capital One. They'll give almost anyone a card.... __________________ Avalanche CherryPimps - Daily Pornstars, LIVE and more!

07-04-2006, 02:37 PM	#20
scottybuzz Too lazy to set a custom title Industry Role: Join Date: May 2006 Location: NY Posts: 14,800	owwwwwwwwwwwwwwwww pay back 90% loan // hahaha rofl __________________ $$$$$ MAKE HUGE MONEY IN CAMS - CLICK HERE $$$$$