Again you prove you have nothing of value to share with anyone, regarding any topic. :1orglaugh

No there is nothing wrong at all with starting out with perfect credit, the whole earning it is half the battle behind maintaining it can be said about anything you give to your kids. It is along the same lines as being super rich and then giving and leaving your kids nothing at all since they need to be taught how to earn it to keep it. Though maybe you feel that way.

Ideally a parent would teach a child about finances while they are growing up. Explaing about credit, about loans, how to understand interest, and so forth because guess what? Our schools do not do this.

I remember when I was around five and going to the bank and getting my very first savings account. I remember my great grandparents taking me their every week so I could give the banker guy at least 20% of my allowence or what I earned that week to put into savings and then how I could spend the rest if I wanted to or I could deposit more and buy something more expensive latter. Yet they pounded into me that I always needed to set aside 20% of all my income into a savings account. Latter they then explained CD's to me and the effects of interest and even compound interest. I personally loved my little khaki bank book and having the banker man sign it each week with my new balance.

It did not take me long before I was adding most of my money to my savings account as I wanted this hotwheels racing track. Then low and behold by the time I had enough to get it I actually had changed my mind (hell I was a kid) and I then wanted a new bicycle. I still had a ways to go but my great grandparents always had side jobs for me to do to earn a fair wage as they never over paid me and I also learned to find myself other jobs by asking their neighbors and such if they needed anything done as I was trying to earn myself enough money for a new bicycle. Despite that I already had one and really did not need a new one aside from that I saw a real cool one that looked more like a motorcycle.

In reality I only took money out of that account a few times and oddly it was to buy other people gifts for fathers day or Christmass. I never puchased hat bicycle I wanted out of my savings. When I finally did get myself a BMX bike I built it myself by ordering everything part by part or buying individual parts at the bike shop. By that time I already had my own paper route and was mowing lawns.

Shit I ramble, what I am trying to say is that you can properly teach a child about credit, interest, and money well in advance of them turning 18 and they will not ruin anything when mommy and daddy are not in control. You would just be giving them a very strong head start that can save them thousands but possibly tens of thousands of dollars or more.

really?
I'm not the one asking on an adult chat board how to build credit.
:1orglaugh

who'd have thought a big success like you would have credit problems?



hahaha, ok. I couldn't say that with a strait face.

I don't have credit problems, I don't have ANY credit. Dipshit. For reasons which are none of your business. :)

son, there's only one reason you don't have credit. :1orglaugh

but we can go back to pretend land again where you're a bigshot and there are many reasons to have no credit.:1orglaugh

have your parents put shit in your name, lol

spent the last 4 years rebuilding my credit from <500 and almost 50 negative items being reported.

i paid many of those accounts back and wrote letters to them to get the item removed, checked my reports every month, some places would not remove the item so i disputed those and got them removed, i used lexington law at first and after they cycled through i handled the remaining ones myself,
for positive items, i got a secured card, then a used car financed at the lot but they reported to agencies, traded that ride in on a more expensive car with a better finance rate with an accredited bank but still high &#37;,
bank switched card to unsecured, and continue to increase the limit.

it's a lot more detailed than this but my score is now 725ish and i have zero neg hits. my fcr.com value is 755ish

it's still not off the charts but after 750ish it gets quite ridiculous to get the score higher, ask around and see if anyone you know is 790-800.

my experience in building my score reflects the intelligent comments posted in this thread except that i have found my # changes a bit more positively when do in fact pay my card down entirely- it increases the total amount of credit the systems determines i have available at that moment. but i run the card up to $6-9K every month and pay it down to zero, like a poster earlier suggested, i've tied all my auto bill pays into that card and then i check it every month when i pay it.

i've turned my credit into a hobby, i enjoy taking care of it and looking at the reports and stroking it and petting it!!!!!1:-)

and yes, after achieving serious equity in property the need to have the ability to acquire debt is lessened.

Ah, so you know the reason is because I am an Immigrant. Okay good, glad you knew that so you didn't sound like an uninformed idiot like all of your other posts about me.

You sir, are just stupid.

http://www.hfc.com/ and Sears. Buying a car helps too.

I doubt paying them off right away will help much, but it has been a long time since I had to worry about "establishing" credit.

odd, my Canadian friend living in LA has credit.

Want to try a different lie?
Hahaha

The lead loan person at my credit union took care of everything for me.

792 here :thumbsup

There are a lot of reasons why someone wouldn't have credit. Someone I know who is in the financial end of this business didn't have credit until the last few years when he was in his 30's. He'd never borrowed money before. My mother is 70 years old and has ONE credit card. She probably uses it once a year if that and has paid for everything else in cash - always - her houses, her cars - everything. My SIL just recently started building her credit because since she doesn't work, everything was in my brother's name. Now they are putting things in both their names or in her name alone so she can build up some credit. Recent immigrants also have to build up credit.

My credit was trashed when being a naive 22 year old, I didn't remove my ex as an authorized user on my AMEX account. Since I didn't use the card, I didn't think it was odd I wasn't getting any bills. But instead, he changed the address to his and ran up $17K in bills - which when he didn't pay, they started garnishing my wages to pay off. Thankfully since I wasn't legally served (how could I be? They "served" me at his address) the judge threw it out. That was over 20 years ago and even though I have good credit, I still can't get an AMEX card. :1orglaugh

Heck, I still remember the days when I was 15+ and using my Dad's credit cards. I'd sign MY name even though the card was in his name and put "dtr" in parenthesis for "daughter". I also snuck to the bank and got a $500 title loan on my car for party money when I was in college at 17. I'm pretty sure you can't do those things any more, lol.

A guy in one of my investment groups does a lot of work with http://www.creditboards.com Those trying to build up your credit might to check over there.

Idiot. LOL! You're so fucking stupid.

Thanks Peaches I appreciate your help. Same goes for everyone here who attempted to help instead of act like a 9 year old in a playground argument like 12clicks.

awwww, poor bradley!

see bradley, it really isn't cool for you to act like an asshole to be noticed by your betters.
Your betters don't forget.:1orglaugh

someone sure lost focus

You sound like robert kyosaki :)
But this is one of the most usefull posts here... and being already an uncle, I'll try to remember that