ChiefsPlanet

ChiefsPlanet (http://www.chiefsplanet.com/BB/index.php)
-   The Lounge (http://www.chiefsplanet.com/BB/forumdisplay.php?f=1)
-   -   Money How does one get credit? (http://www.chiefsplanet.com/BB/showthread.php?t=271699)

Dayze 04-02-2013 02:18 PM

two words: Title Loans.

tmh 04-02-2013 02:18 PM

You need a few cards that carry a balance each month. They don't need to be high balance just keep the amount carried each month at 35 -40 percent of the card limit.

SLAG 04-02-2013 02:19 PM

dude - your FICO score is your " I love debt" Score or "I care what banks think of me" score

If you truly live debt free you shouldn't care about your FICO score

Also
Cell phone companies don't use the Traditional FICO they have an Industry specific credit calculation - but if I was debt free i'd probably look into something like Ting.

We have been working the Dave Ramsey Baby steps for the past month and we should be debt free except the house by the end of the year.

I have cancelled all my credit cards and I vow never to borrow money again - meaning I could give a flick about my FICO score..

Good luck to you

loochy 04-02-2013 02:19 PM

Quote:

Originally Posted by R8ers (Post 9549864)
It's set at 4k limit.. is that too low?

Yeah, probably. Just call and ask them to raise the limit. I'm sure they will.

R8RFAN 04-02-2013 02:19 PM

Quote:

Originally Posted by Pestilence (Post 9549865)
You can....yeah. It can be as simple as taking out a $2000 loan....putting the money into a savings account and then making the monthly payments every month. You'll lose a little money in the interest you pay over the loan....but it will build your credit history.

Where should I go? My local bank where I have my money at... I heard once you should never have loans where you bank is there any truth to this?

Pestilence 04-02-2013 02:19 PM

Quote:

Originally Posted by MIAdragon (Post 9549866)
The older your credit lines are also plays into your score.

This.

Having a line of credit for 3-4 years looks better.

loochy 04-02-2013 02:20 PM

Quote:

Originally Posted by tmh (Post 9549871)
You need a few cards that carry a balance each month. They don't need to be high balance just keep the amount carried each month at 35 -40 percent of the card limit.

:spock:

SLAG 04-02-2013 02:20 PM

Quote:

Originally Posted by R8ers (Post 9549852)
Just that one and I pay it off in full every month, Should I keep a 10 dollar balance on it or something?

myfico.com forums suggest keeping about a 10-15% of limit balance to keep score high

loochy 04-02-2013 02:20 PM

Quote:

Originally Posted by R8ers (Post 9549875)
Where should I go? My local bank where I have my money at... I heard once you should never have loans where you bank is there any truth to this?

Go wherever give you the lowest rate.

Pestilence 04-02-2013 02:20 PM

Quote:

Originally Posted by SLAG (Post 9549873)
dude - your FICO score is your " I love debt" Score or "I care what banks think of me" score

If you truly live debt free you shouldn't care about your FICO score

Also
Cell phone companies don't use the Traditional FICO they have an Industry specific credit calculation - but if I was debt free i'd probably look into something like Ting.

We have been working the Dave Ramsey Baby steps for the past month and we should be debt free except the house by the end of the year.

I have cancelled all my credit cards and I vow never to borrow money again - meaning I could give a flick about my FICO score..

Good luck to you

Link to the Dave Ramsey baby steps?

loochy 04-02-2013 02:20 PM

Quote:

Originally Posted by SLAG (Post 9549880)
myfico.com forums suggest keeping about a 10-15% of limit balance to keep score high

F that mess

R8RFAN 04-02-2013 02:21 PM

Quote:

Originally Posted by loochy (Post 9549874)
Yeah, probably. Just call and ask them to raise the limit. I'm sure they will.

i have had the card for like 10 years and never had a late payment of any kind on it... Weird thing is I go to creditkarma and it does not list that credit card on me and it's in my name.. are they not reporting it or is credit karma just not accurate?

loochy 04-02-2013 02:21 PM

Quote:

Originally Posted by R8ers (Post 9549887)
i have had the card for like 10 years and never had a late payment of any kind on it... Weird thing is I go to creditkarma and it does not list that credit card on me and it's in my name.. are they not reporting it or is credit karma just not accurate?

That's weird. You DO use it, right? And it IS a credit card, not a debit card, right?

Deberg_1990 04-02-2013 02:22 PM

Go take out some loans and pay them off within a year. My credit score is in the 800s.

I have zero CC debt, but i will take out loans for stuff like furniture from time to time even though i dont have to.

Pestilence 04-02-2013 02:22 PM

It sounds like that card is a debit/credit card that's tied to your account. Those won't report the credit bureau.


All times are GMT -6. The time now is 03:44 PM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2018, vBulletin Solutions, Inc.