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. |
Donate a $1000 per month to CP and pay for it with a credit card.
Problem solved. |
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All that I contribute to this forum, You guys should be stroking me a check |
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Get some kind of card that gives a cashback reward, such as my costco amex or my wells fargo visa. There's no annual fee and I just charge everything I can to the cards - all groceries, gas, bills, everything that is eligible. I just pay them off at the end of the month. I pay no interest and I get 1% back on everything from both of them (sometimes up to 3% back from the amex, depending on what I buy). |
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The ultimate goal is to have a fico score of zero because that means you don't need to borrow money. |
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Thanks to all of you. |
If you really want to have a high credit score, put everything on credit cards. Seriously.
It will take a while to build up your average age of accounts, so your score may take a short term hit, but will benefit in the long run. Make sure to pay them off every month though. |
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I get the FICO thing but it should also go by the Debt to credit ratio thing The system is flawed and penalizes disciplined savers |
You dont need to carry a balance at all. Just open up 2-3 more credit cards with no monthly or yearly fees and let them sit.
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Did I miss why you are wanting good credit? The only thing I can think of is some insurance companies factor in your credit score. It seems to me you are well off without a decent credit score.
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If you don't want to spend the rest of your living month to month this is the best advice you will ever find.
I have not had a credit card in at least 5 years. It is silly to maintain a bunch of credit crds to keep a high FICO score if your long term goal is to be financially healthy and independent. Quote:
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