I just recently turned 18, and with college, and a car, and a thousand other things...good credit would be nice to have. I'm responsible with my money, a sub-poverty family does that to you, but my credit score is already bad. When I was 11, my stepdad (Who's long gone now) put a cable bill in my name and never paid it. There's also a Sprint Bill from when I was 16, but I paid that off a few weeks ago.
So I guess I just need some options on fixing my credit score. My mom doesn't really know, she has bad credit herself from bankruptcy (sp?) and stuff. The quicker I can fix it, and the more ways to fix it, the better, I have a lot of things to do that need a credit score. Thanks ahead of time...!
2006-07-14 05:46:38 · 8 answers · asked by nparris88 1 in Business & Finance ➔ Credit
Anything on your credit from when you were under 18 is illegal, you were a minor and unable to contract. You can write to each credit bureau, send in a copy of your ID, and have it removed. You can call the cable company, and if needed threaten to sue them if they do not remove it.
To be honest I dont see how you got a sprint bill at age 16 on your credit, but it is good you paid it off.
Take a few hundred dollars and open a secured credit card with the money . Capital One has this. They pay you like 5% on your savings, but at any time you or they can pay your balance off with the savings. Use the card and make a history of payments.
Also, never go over 50% of your credit limit. Capital One will most likely offer you a regular non secured credit card afterwards.
You can do the same thing at banks and credit unions. I have borrowed against CDs to use the money but save on interest. The loans show up on your credit report and help your score.
Then always us credit responsibly, it will make all the difference in your life. It will allow you to afford a home, car paymens etc.
2006-07-14 05:56:25 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I agree with the others about the cable bill. Dispute that as not yours.
If the Sprint bill starts showing as a paid negative, it may be more of a challange. If you had nothing in writing stating that whoever you paid will either delete that tradeline or have it show as paid as agrees you would have to start attacking it with the credit bureaus and sending letters to whoever you paid.
If those are your only negatives, you can start gaining credit with secured or partially secured credit cards, store cards etc. open a bank or credit union account and make a small loan. It will take awhile for your scores to start rising since you will have to gain a bit of history on the cards and/or loans.
If you know of someone, that you trust, who has cards that have a low or no balance and good history, ask them if they will add you as an authorized user. If they will do that, wait until the card(s) starts reporting before applying for credit.
You might go to the site I've listed and do some reading. It is a "free" do it yourself credit repair site. Never pay for what you can learn for free.
You will not only find information that will help in correcting the negatives that you have, but you will find info on how to build up your credit.
2006-07-14 18:57:18 · answer #2 · answered by echo 7 · 0⤊ 0⤋
You cant have a phone bill in your name when youre 11. If you contact the tree credit reporting agencies and dispute anything on your credit report before you were 18 they have to take it off.
2006-07-14 07:38:29 · answer #3 · answered by drunkbomber 5 · 0⤊ 0⤋
You are so smart to be thinking of this when you did. It is actually illegal and voidable for anyone to enter into a contract with a minor, so you should be able to get that bill totally wiped from your record by telling them what happened. You should use these websites and sign up for one or all of them...they all have step by step solutions and lots of easy to understand education about credit and raising your credit score. Here they are:
http://www.suzeorman.com/
http://www.myficokit.com
http://www.crown.org
http://www.daveramsey.com/
Best wishes!!!
2006-07-14 05:55:43 · answer #4 · answered by Sleek 7 · 0⤊ 0⤋
I got my first credit card by using my dad as a co-signer. He has decent credit so while could get one on my own, with him as a co-signer, i was able to get approved. i got the credit card through my bank, where we both had accounts. i restricted myself on what i was allowed to purchase with the credit card. i used it only to buy gasoline. as soon as i made a purchase, i went online and paid it off in full. using credit cards to build credit is a good way, if you are able to manage your money and not acquire debt.
2006-07-14 06:30:22 · answer #5 · answered by smcmsam 2 · 0⤊ 0⤋
Don't do anything with it.
http://www.cbsnews.com/stories/2005/10/18/earlyshow/living/money/main951008.shtml
Read Dave's book "Your Total Money Makeover" (get it from the library if you don't want to spend the $15)
It will change your financial life.
2006-07-14 05:49:46 · answer #6 · answered by Sir J 7 · 0⤊ 0⤋
one of the biggest things is just to pay your bills on time, this will slowly but surely bring up your score, check out the link below and good luck!
2006-07-14 05:53:07 · answer #7 · answered by Anonymous · 0⤊ 0⤋
buy a car
2006-07-14 05:49:30 · answer #8 · answered by djsinthe 2 · 0⤊ 0⤋