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Establishing and Building Good Credit

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 Establishing and Building Good Credit
Unread 08-25-2006, 08:18 PMJoined Feb 2006 - away - #61
ladyofrage  space
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$745 | 114479
you have no credit at this point. you only have two things and one is bad so it kinda cancels each other out. pay off the credit card.
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Unread 08-26-2006, 01:31 PMJoined May 2004 - away - #62
Bodega  space
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ReD FlAg CapO
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$537 | 714668
Originally Posted by ladyofrage
with bank of america, going over you limit raises your APR if you were on an introductory rate which knowing BOA you were. even if you get the over limit under limit, your APR will not go down. best thing is to get a new low balance transfer APR and transfer the balance. try discover student card or chase visa.

I'm going to transfer the balance to a chase visa, but When I transfer the balance to another card what happpends then and will my apr go down on my Bank of America student card (will that card balance will be zero)

thanks a lot for the info
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Unread 08-26-2006, 04:10 PMJoined Feb 2006 - away - #63
ladyofrage  space
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Giving a damn...sometimes
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$745 | 114479
your APR will stay the same. onces it goes up, it stays there. you can close your card and apply for another one with a lower rate.
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Unread 08-29-2006, 01:13 PMJoined May 2004 - away - #64
Bodega  space
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ReD FlAg CapO
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So a balance transfer to another card automatcally closes my BOA credit card?

Or will the new card - by transferring balances pays the BOA credit card and then the BOA balance will be zero- So then with the new card I will be paying at a lower apr with the balance I had on the BOA card?

I need some concrete clairty because I wanna get out of this dilemma as soon as possible
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Unread 08-29-2006, 02:17 PMJoined Feb 2006 - away - #65
ladyofrage  space
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Giving a damn...sometimes
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$745 | 114479
You balance will be zero but that does not close your card. and you will be paying the balance of the BOA card on the new with a lower APR. Your BOA card will not be closed unless you want it to be and ask them to close it.
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Unread 09-07-2006, 12:10 PMJoined Jan 2005 - away - #66
oneosi  space
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$1,079 | 6401970
Here is a good coupon for a great site, save 20% off of any credit check package at . Use coupon code CPPSAVINGS
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Unread 09-27-2006, 08:25 PMJoined Jul 2005 - away - #67
Sikz de Nyne  space
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a big head full of nothin
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$156 | 67402
Monthly payments an services like cell phone plans and internet service don't effect credit riight?
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Unread 10-25-2006, 09:41 PMJoined Oct 2006 - away - #68
firex21  space
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$485 | 669273
prop'd
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Unread 11-14-2006, 08:38 AMJoined Aug 2006 - away - #69
crockjr  space
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$60 | 1913
good info
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Unread 02-05-2007, 08:38 AMJoined Feb 2006 - away - #70
v_nwankwo  space
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NO CREDIT IS WORSE THAN BAD CREDIT

As many young American move from childhood to adulthood they are faced with a grim reality. They have no credit, and now they are classified and bunched with those who have bad credit. Any creditworthiness you acquire is directly linked with credit lines that you have on your file. Each credit line is gained when you apply for credit cards, buy a car, get a bank loan etc. So to gain a credit line, you must have good credit and to have good credit you must have credit lines. This has been the problem for most young Americans. One way to eliminate this problem is to acquire a collateral bank loan and once this is paid back you automatically have a credit line. Most banks are willing to offer this service to young people because the bank knows that credit is all that matters in the world today and building your credit from a young age will give you a head start among your peers. Credit card companies can be very reluctant to even offer you a low limit credit card knowing that you have no credit at all. If one is offered it is usually a secured credit card with high initial annual fees and high rates. Also it will be impossible to purchase a car or a home without any credit lines. A bank collateral loan requires a deposit into your bank of choice then the ability to request for a loan that is equal to the amount deposited. A reasonable term would be one year to pay back the loan on a monthly basis. Problem solved. Learn more on establishing new credit at .
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Unread 03-15-2007, 10:39 AMJoined Jan 2007 - away - #71
WILD100  space
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Good Website

THE SITE HAS SAMPLE LETTERS AND ALOT OF HELPFUL HINTS , PROPS ON THE THREAD
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Unread 03-24-2007, 04:55 PMJoined Aug 2006 - away - #72
93G4Life  space
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Enlightened One
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Originally Posted by canal_boys
wtf dont even work
works for me.. :applause:
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Unread 03-27-2007, 03:29 PMJoined Jan 2005 - away - #73
bgj887  space
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$1,516 | 6289306
i been with chase for about a yr and a half, today they offered me a chase freedom credit card and i accepted, i wanna build up my credit so i'm messing wit it, right now it's a $300 spending limit, and i think the yearly intrest is like 18%, so when i get it imma just use it to buy sh*t i know i can pay back at the end of the month and imma pay the balance off in full when i get my statements
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Unread 04-09-2007, 07:08 PMJoined Mar 2006 - away - #74
unclejuju 1 heat pts space
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props for all the info
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Unread 05-07-2007, 02:14 PMJoined Mar 2006 - away - #75
unclejuju 1 heat pts space
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Originally Posted by Inhale
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

is there any truth to this
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Unread 06-06-2007, 09:36 PMJoined Mar 2004 - away - #76
Mista Mizatti 4 heat pts space
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Okay I've been trying to establish my credit for a second now but I get turned down for loans and all that. Is there an easy surefire way to get it done?
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Unread 06-15-2007, 11:27 AMJoined May 2006 - away - #77
Dtowns_Answer 2 heat pts space
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aight i have a question on credit since im new to this sh*t,
i got a credit card i got from opening an account in dec.
interest free until aug 07
right now i got 1,000 that i owe on that,
so i got a few question, would it be better to pay that off by then
or is it better to pay bout a bill every month? what would be the best thing to do,

another thing, my interest is 9.9 so is that added to the whole amount due every month, or is that 9.9 for the whole grand?
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Unread 07-04-2007, 11:43 AMJoined Dec 2006 - away - #78
JB18Cert  space
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C-E-R-T u do da rest
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$292 | 1204810
good read. damn i kno' i don fu*k my credit up. guess i'll just have to wait 7 years to get scr8in' out.
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Unread 07-11-2007, 07:19 PMJoined Apr 2007 - away - #79
LEX300  space
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Originally Posted by Fu7urE101
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.
Establishing credit is sloooow. But you can kind of speed things up a little if you get a loan, if you have a cell phone that counts as credit, car payments (that are in your name), insurance too. I have a couple cards to I use one just for gas. My moms just bought a new house and i co-signed to help my credit. Just gotta make sure you pay your bills!!!
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Unread 07-25-2007, 09:43 AMJoined Jan 2005 - away - #80
bgj887  space
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$1,516 | 6289306
I'm on my way to building up my credit, in april I got a credit card that I pay off in full every month, in april I also started a new cell phone plan in my name and I have also been paying that off every month on time, I'm also trying to buy a car in a few months and when I do the insurance will be under my name
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