Est@blishing and Building Good Credit

01-30-2006, 06:40 PM

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.

02-28-2006, 08:06 AM

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.

03-06-2006, 01:28 PM

Originally Posted by sdotty313

my !!in credit is shot to [rip] already....

co-sign...but my question is, how do you pay off delinquent accounts already on your credit report?

03-21-2006, 01:38 AM

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!

04-03-2006, 02:17 AM

So what's a great recommened start up card for a college student?

04-12-2006, 02:56 PM

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

04-17-2006, 05:06 PM

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.

04-23-2006, 05:42 PM

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.

04-30-2006, 02:48 AM

Originally Posted by midwestgrittin

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

06-01-2006, 05:20 PM

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?

06-09-2006, 09:57 AM

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.

06-09-2006, 09:58 AM

Originally Posted by canal_boys

wtf dont even work

thats what they meant to put.

06-09-2006, 04:58 PM

gotta keep that credit clean

06-17-2006, 12:52 PM

i look at credit as a game. i'm 22 and my score is 741 as of may 06.

06-19-2006, 07:38 PM

Originally Posted by stickyknots

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.

06-20-2006, 11:07 AM

Originally Posted by xbuix15

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.)

06-20-2006, 01:48 PM

Originally Posted by jaydee563

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.

06-20-2006, 06:24 PM

Originally Posted by markus

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

07:13 AM

Originally Posted by markus

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.

06-21-2006, 08:22 AM

Originally Posted by jaydee563

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

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