2006-06-15 18:28:35 · 9 answers · asked by suminlin22 1 in Business & Finance ➔ Credit
To build credit
1. use credit, pay on time, make payoffs, and don't owe too much in credit or your debt-to-income ratio will lok bad.
2. Pay other bills on time.
3. If you have outstanding bills, pay them off as quickly as possible.
4. Do not apply for credit too frequently, all inquiries show on your report and make you look desperate for credit.
5. Besides credit cards you could purchase an older car with easy financin terms and a short pay-off time, pay it off, and then buy a slightly more valuable car and pay it off. Your credit grows quickly with timely car payments.
2006-06-15 18:38:25 · answer #1 · answered by theinfalliblenena 4 · 0⤊ 0⤋
This only takes six steps:
1.Go to any bank with $500.
2.Give them the $500 and ask for a secured credit card.
3.They will give you a secured credit line for $500.
4.Draw $500 from your new card and go to another bank.
5. Repeat steps 2 thru 4 as many times as you can make the payments.
6. Pay all of your cards on time for 6 months and then pay them all off.
At the end of this process you will be able to buy a million dollar fourplex with no money down.
2006-06-15 20:00:36 · answer #2 · answered by kevingeorgecampbell 2 · 0⤊ 0⤋
I don't think I understand this question. If you want to build credit you need to get a card and make all your payments on time. If you want to see your current credit score there's a myriad of websites available to you. I suggest you google it!
2006-06-15 18:32:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If your parents or someone you know has good credit, they can put you as an authorized user on their account (they don't actually have to give you the card) and you will benefit from their good score.
2006-06-15 18:45:41 · answer #4 · answered by SuzieQ 2 · 0⤊ 0⤋
if you mean getting a credit rating , you have to get credit first
but you won't show a rating quickly
2006-06-16 01:32:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The answer is, you can't. It takes time to establish good credit
2006-06-15 18:40:15 · answer #6 · answered by David H 3 · 0⤊ 0⤋
No quick way other than to pay off your debts and bring down the balance to well below 50%. Don't charge big-ticket items. And, although this sounds redundant, but it works, pay your bills ON TIME!!!
2006-06-15 19:17:20 · answer #7 · answered by Curiousty27 2 · 0⤊ 0⤋
you dont need credit cards to establish credit. go here for details. its a great article called "why student dont need credit cards" and tells you steps you can take to build credit.
http://seattlepi.nwsource.com/money/1372...
Source(s):
http://seattlepi.nwsource.com/money/1372...
2006-06-15 18:43:58 · answer #8 · answered by **0_o** 6 · 0⤊ 0⤋
use your credit card offten
2006-06-15 20:04:36 · answer #9 · answered by rajesh.upadhyay 1 · 0⤊ 0⤋