How does one get credit?

[cosmo20002]

Originally Posted by R8ers

I actually looked at some credit cards that said I had a high possibility of being approved for but they are shit cards that want 39 bucks a year for the privy of taking space up in my wallet...

The system sucks if you ask me

There are tons of credit cards out there with no annual fee. Get a couple from different companies, buy some stuff and pay off the balance. It will raise your score.

http://www.capitalone.com/credit-cards/

[R8RFAN]

Step 1- Save $1000 Emergency Fund--------Done X 100+
Step 2- Pay off all Debts Smallest to Largest - using the funds you free up to add to the payment of the next debt - aka the debt snowball---Done, Years ago
Step 3- Complete the ER fund with 3-6mo of savings--- Done several times over
Step 4- Put 15% of your income toward retirement--- 15% 90% OF THE YEAR 25% when I feel frisky
Step 5 - Save for Kids' college---- Got it covered, Daughter not interested in being a brain surgeon
Step 6 - Pay off House Early--- Done...
Step 7 - Become Wealthy and give a lot of it away ---- Already give alot away, I pay the hell out of taxes while others sit on their ass and play xbox

[Ming the Merciless]

http://www.clarkhoward.com/news/clar...t-score/nTWGX/

a quick blurb, but around 45% (15+30) has to do with number of lines, utilation rate, and open accounts vs closed.......i think you could raise your score pretty drastically by just having more accounts, higher limits and keepingyour utilaztion rate at zero like it is now.......just use them every few months and pay them off.

ill try to find a link about the secured aspect

[R8RFAN]

Oh, like a year ago my credit was like 699 then it dropped to mid 600's and I haven't done a damn thing

[The Franchise]

Originally Posted by R8ers

Oh, like a year ago my credit was like 699 then it dropped to mid 600's and I haven't done a damn thing

Mine jumped from the low 600s into the low 700s because I paid off about half of my debt. I still have 2 cards left to pay off and the student loans that are hanging over my head.

[R8RFAN]

Originally Posted by Pestilence

Mine jumped from the low 600s into the low 700s because I paid off about half of my debt. I still have 2 cards left to pay off and the student loans that are hanging over my head.

I heard paying the cards off is ok but don't close the account or it will actually hurt your score

[The Franchise]

Originally Posted by R8ers

I heard paying the cards off is ok but don't close the account or it will actually hurt your score

Yep. Although I did close one of my credit cards because they refused to increase my limit and lower my interest rate even though I've been with them for 7 years.

[cosmo20002]

Originally Posted by R8ers

I heard paying the cards off is ok but don't close the account or it will actually hurt your score

True.

[Dayze]

I think a buddy of mine has a 800 score; he's debt free etc; he just uses 3 cards; and rotates them each month in terms of what he buys, then pays off.

he'll use card A for a month for food, gas, etc. then card B for the same thing etc.

I'm sure there are other things he does to improve it, but it seems like that helps significantly.

[R8RFAN]

Originally Posted by Dayze

I think a buddy of mine has a 800 score; he's debt free etc; he just uses 3 cards; and rotates them each month in terms of what he buys, then pays off.

he'll use card A for a month for food, gas, etc. then card B for the same thing etc.

I'm sure there are other things he does to improve it, but it seems like that helps significantly.

That sounds good right there.. I am not above doing this...

[Donger]

Originally Posted by Dayze

I think a buddy of mine has a 800 score; he's debt free etc; he just uses 3 cards; and rotates them each month in terms of what he buys, then pays off.

he'll use card A for a month for food, gas, etc. then card B for the same thing etc.

I'm sure there are other things he does to improve it, but it seems like that helps significantly.

The wife and I are friends with a younger couple who did precisely this after going through a bankruptcy. It apparently works.

[The Franchise]

Originally Posted by Dayze

I think a buddy of mine has a 800 score; he's debt free etc; he just uses 3 cards; and rotates them each month in terms of what he buys, then pays off.

he'll use card A for a month for food, gas, etc. then card B for the same thing etc.

I'm sure there are other things he does to improve it, but it seems like that helps significantly.

I wanted to help build my score by using a credit card to pay off all of my monthly bills and then pay it off at the end of the month.....but my bills don't take ****ing credit cards as payments. Dicks.

[Dayze]

i think my buddy has also done the same thing with like a Best Buy card etc; he'll 'buy' a TV with the CC, then go home, log in and pay it off in a day or two. Same thing at Lowes (Lawn mower) etc.

He said something to the effec that he'll use a card for everything he can pay off in full, without penalty. I might be mis-speaking a bit, but you get the idea.

[mlyonsd]

Donate a $1000 per month to CP and pay for it with a credit card.

Problem solved.

[R8RFAN]

Originally Posted by mlyonsd

Donate a $1000 per month to CP and pay for it with a credit card.

Problem solved.

Austin is rich, he does not need my chump change

All that I contribute to this forum, You guys should be stroking me a check