Boxden hiphop sports wild'ish games movies news eyecandy tech gear rides
trending now most viewers #top20 top yesterday all sections videos pics tracks headlines

Establishing and Building Good Credit

most watched this minute | see more
most viewed right now
112 viewing
 Video inside (New Video) Lil Mama - Sausage
102 comments
most viewed right now
90 viewing
 May 28 - Man jumps to his death from downtown Manhattan luxury apartment, is d..
39 comments

top in section
40 viewing
Image inside The power of makeup aka witchcraft
top in eyecandy
top in section
50 viewing
 Image inside 41 Things To Know For No Reason....
top in wild'ish

people viewing this topic:   (0 members and 1 guests)  
 
 

let em know Share this on TwitterShare this on Facebook
 Establishing and Building Good Credit
Unread 9 years agoclass of '04 - away - #21
fulgazey  space
avatar space
Mr. Get It Started
space
$315 | POWERFUL
Credit is a powerful thing and don't take it lightly when your score is low. Each positive month on your credit history is like a 10 point month. Your score is the past 84 months of your credit history. If you have alot of consecutive good months while your bad months are rolling off of that total your score can make dramitic increases in a 8-10 month span.

Alot of credit card access can also be bad. If you have "liquid access" to a large amount of money banks consider that as debt because you can incur it at anytime you please. When you have cards that are old and accounts you don;t use if you don't need the tradeline open close it. It helps your total outlook.
Reply With Quote
Unread 9 years agoclass of '06 - away - #22
Fu7urE101  space
avatar space
ShadowLord
space
$4 | 0
I have about 3 cards now. A mastercard, visa, and a Gap card all of which I pay off about 3-4 days after I get the statment. But I have a friend who says that might not be enough to really boost my credit score. He said I may have to take out a loan or something.
Reply With Quote
Unread 9 years agoclass of '04 - away - #23
term0il  space
avatar space
Senior Member
space
$329 | 148282
sdotty313 said:
my fu*kin credit is shot to death already....
co-sign...but my question is, how do you pay off delinquent accounts already on your credit report?
Reply With Quote
Unread 9 years agoclass of '06 - away - #24
9.18 1 heat pts space
avatar space
EducationBreedsResistance
space
$1,824 | 5186577
b b b b b bankruptcy


or have ur debt consilodated into a flate fee through a credit broker, pay it off then cancel everything u have and geta secured card for a year or two then ur rdy to go!
Reply With Quote
Unread 9 years agoclass of '04 - away - #25
ruff 6 heat pts space
avatar space
McThickridge
space
$24,622 | POWERFUL
So what's a great recommened start up card for a college student?
Reply With Quote
Unread 9 years agoclass of '06 - away - #26
Inhale  space
avatar space
Member
space
$97 | 19735701
if you get more than one card, and pay them off one card with another... as long as you don't mess around and spend more than you have.. that's a good way to build up your credit
Reply With Quote
Unread 9 years agoclass of '06 - away - #27
midwestgrittin  space
avatar space
Senior Member
space
$312 | 10862
will give you a free credit report and will allow you to dispute anything on your credit report. Just a heads up search experian for your credit report. I found them to be the best.
Reply With Quote
Unread 9 years agoclass of '06 - away - #28
lakerz  space
avatar space
Member
space
$58 | 732
all good info, fyi you can file for bankruptcy once and some companies will still issue you credit cards/loans. however if you file for bankruptcy atleast twice then thats pretty much the end of uf credit history, no bank/cc company will ever take the chance on you.
Reply With Quote
Unread 9 years agoclass of '06 - away - #29
canal_boys 6 heat pts space
avatar space
whoa
space
$3,753 | 8927668
midwestgrittin said:
will give you a free credit report and will allow you to dispute anything on your credit report. Just a heads up search experian for your credit report. I found them to be the best.
wtf dont even work
Reply With Quote
Unread 9 years agoclass of '06 - away - #30
stickyknots  space
avatar space
Member
space
$80 | 2206
i got a cell phone bill in my name with 2 other people on it. i pay on time but they always late. do u think it will still lower my score?
Reply With Quote
Unread 9 years agoclass of '06 - away - #31
markus  space
avatar space
MarkyMark
space
$1,159 | 162836
nah it doesn't lower your score unless you haven't paid for long periods of time and they send your account to the collections department. They usually send u a notice (or maybe a few of them) before they do it though.

actually, paying your cell phone on time or most of the time doesn't effect your credit score. in fact, it doesn't appear on your credit at all. it only appears when you refuse to pay ur unpaid balance.
Reply With Quote
Unread 9 years agoclass of '06 - away - #32
markus  space
avatar space
MarkyMark
space
$1,159 | 162836
canal_boys said:
wtf dont even work


thats what they meant to put.
Reply With Quote
Unread 9 years agoclass of '06 - away - #33
mc_breed  space
avatar space
Supply & Demand
space
$1,648 | 73228
gotta keep that credit clean
Reply With Quote
Unread 9 years agoclass of '06 - away - #34
anseltmchs 3 heat pts space
avatar space
Senior Member
space
$498 | 1626267
i look at credit as a game. i'm 22 and my score is 741 as of may 06.
Reply With Quote
Unread 9 years agoclass of '04 - away - #35
fulgazey  space
avatar space
Mr. Get It Started
space
$315 | POWERFUL
stickyknots said:
i got a cell phone bill in my name with 2 other people on it. i pay on time but they always late. do u think it will still lower my score?
Yes. Your name is on the account and you are a "owner" of that account. Get your own if someone else is messing up. Don't ride the wave down with them.
Reply With Quote
Unread 9 years agoclass of '04 - away - #36
jaydee563  space
avatar space
Senior Member
space
$260 | 2890492
xbuix15 said:
dont know if this has been posted, but if you have several credit cards and DONT USE THEM, it will help your credit score. having several cards means that you have access to more money than you would with one card. so having a couple cards on the side will help. just dont get too many, because credit companies will get suspicious


Actually if you have several cards and don't use them that is actually isn't good from a credit card company standpoint. Those credit card companies review your credit card accts pretty regularly and if the see accts that have been used for sometime or even ever they will close them and it will show as closed by the creditor which reflects negatively on your credit(especially if you apply for new credit cards, etc.)
Reply With Quote
Unread 9 years agoclass of '06 - away - #37
markus  space
avatar space
MarkyMark
space
$1,159 | 162836
jaydee563 said:
Actually if you have several cards and don't use them that is actually isn't good from a credit card company standpoint. Those credit card companies review your credit card accts pretty regularly and if the see accts that have been used for sometime or even ever they will close them and it will show as closed by the creditor which reflects negatively on your credit(especially if you apply for new credit cards, etc.)
agreed, but the creditor will never cancel or close your account without a person's consent. the only way they can do that is if you don't pay your bill...

but yeah, its better to use your credit cards regularly, just make sure u only spend amounts of money you can pay back. Keep doing this and it will show a good credit history. The reason credit companies don't like to see accts that are not active is because they need to see that you know how to pay your bills on time. and if you don't have a credit history, its impossible for them to do this.
Reply With Quote
Unread 9 years agoclass of '04 - away - #38
Shizz|M  space
avatar space
I'm Even SICK in PINK!!!
space
$7,059 | 12777725
markus said:
agreed, but the creditor will never cancel or close your account without a person's consent. the only way they can do that is if you don't pay your bill...

Actually if you have a card that hasnt been used in a 5-6 month period they will close the card out automatically thinking that you never received it or never used it. which will look good on your credit though

i had one card that they did that too
Reply With Quote
Unread 9 years agoclass of '04 - away - #39
jaydee563  space
avatar space
Senior Member
space
$260 | 2890492
markus said:
agreed, but the creditor will never cancel or close your account without a person's consent. the only way they can do that is if you don't pay your bill...

but yeah, its better to use your credit cards regularly, just make sure u only spend amounts of money you can pay back. Keep doing this and it will show a good credit history. The reason credit companies don't like to see accts that are not active is because they need to see that you know how to pay your bills on time. and if you don't have a credit history, its impossible for them to do this.
The credit card's definition of you giving your consent = you verbally agreeing by phone or signing a credit card application and getting approved for your credit card



The credit card company that I worked for closed unused accts out all the time and then sent you a letter or notice( if you were lucky) to let you know they did it. If you weren't lucky enough to get a letter, you usually found out after pulling your credit report and seeing the "closed by creditor" notice on your credit report. You usually don't want your credit report showing that the credit card company closed the acct for you regardless of what the reason is.

Last edited by jaydee563; 06-21-2006 at 07:13 AM..
Reply With Quote
Unread 9 years agoclass of '04 - away - #40
Shizz|M  space
avatar space
I'm Even SICK in PINK!!!
space
$7,059 | 12777725
jaydee563 said:
The credit card's definition of you giving your consent = you verbally agreeing by phone or signing a credit card application and getting approved for your credit card



The credit card company that I worked for closed unused accts out all the time and then sent you a letter or notice( if you were lucky) to let you know they did it. If you weren't lucky enough to get a letter, you usually found out after pulling your credit report and seeing the "closed by creditor" notice on your credit report. You usually don't want your credit report showing that the credit card company closed the acct for you regardless of what the reason is.
Yeah let me add to that. not matter what you stuff is.. even if you know you owe them.. DOnt let them Close the account out.. if you find out (barring you got a letter.) have them open teh account back up and then you call back a few days later and close it out your self. This will report as "Closes by Client" and this will report good on your credit; giving that you balance is satisfatory
Reply With Quote
 

Home > all sections > The Money Spot
  
    
          join bx


 




that hot ish yesterday


most viewed right now
42 viewing
NBA LeBron: 'Warriors Come Out To Play'
28 comments
@sports
most viewed right now
28 viewing
Video inside Drake Debuts A New Verse Dissing Cash Money In Detroit On His "Jungle T..
94 comments
@hiphop
most viewed right now
24 viewing
Video inside Step mom gives Her 12 Year Old Step Son A Fresh George Jefferson Cut F..
383 comments
@wild'ish
most viewed right now
22 viewing
Video inside Game Theory: The Mario Timeline's SHOCKING Reveal
15 comments
@games
most viewed right now
20 viewing
May 28 - Pron actors will have to wear GOGGLES under new California regulations.
71 comments
@news
most viewed right now
20 viewing
Video inside rick james interview at studio 54 (he def smashed the reporter later th..
77 comments
@wild'ish
most viewed right now
18 viewing
Video inside ASAP Rocky Sorry For Jizzin In Rita Ora Mouth,Disses Godfather 50 & GUn..
94 comments
@hiphop
most viewed right now
18 viewing
NBA Windsor: LeBron James is better than Michael Jordan
442 comments
@sports
most viewed right now
16 viewing
Video inside Mya 35 Still looking good. "Mother of five animals" How come no one man..
59 comments
@eyecandy

^
contact us   |   bx@twitter   |   bx@facebook   |   privacy   |   search   |   BX 1998-end of time