How does one get credit?
Yall know the story about me... I am going to be a bit vague here..
#1 100% Debt Free #2 Low 6 figure savings #3 Mid 6 Figure retirement (401k) #4 No Credit Card debt #5 DTI (Debt to income ratio =0) #Paid 30 yr mortgage off in 5.5 years #Bought car on 4 year financing in 2005 paid off in 2 years #Bought Car with 4 year financing in 2002 also paid off in 2 years # Have 1 bank credit card (Visa) Pay off in full every month Income per year is High 5 figures to low 6 figures per year No bankruptcies or late payments ever on any thing I ever bought since the early 90's. I am not interested in buying anything or looking to buy anything but why is my credit score in the mid 600's and how do I get it to go up? I am fully prepared for a bunch of stupid comments that I am just going to filter through to get to the legitimate ones so fire away... I know there are a bunch of people on this forum that make good money and are pretty smart except for their choice in a football team so give me some pointers. Being Debt free is wonderful but if I ever choose to go buy someting like a stupid cell phone on a contract (which I haven't) I am going to be super pissed having that kind of coin and getting turned down... Fire away |
Do you have open credit cards with zero balances?
EDIT: Saw that you have one. |
you get credit by having lines of credit open. having a larger credit to debt ratio is better.
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The more you have open and current the better I guess. The logic doesn't make sense to me either.
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You won't get turned down for a cell phone if you went to get one. They'd ask you for a cash deposit. And I'm pretty sure that with a credit score in the mid 600s....they won't even require one of those.
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Credit report is a fraud. In order to get credit you have to create dept to pay off in time. When you have everything paid off and don't generate more credit debt then you just stay the same. It's ****ing dumb. Kids out of high school have to earn credit to start out in life and that meens they have to create debt to have credit. This is how I see it.
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do you have an income?
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Try to get your limit raised. That will help. The more credit you have available = better. The less debt you have against that available credit = better. |
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The older your credit lines are also plays into your score.
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Open some more high limit credit cards and keep them paid off or something. Yeah, I know, the way this thing works is absolutely reeruned. If they just looked at your situation they'd see that you can easily pay off whatever... |
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