what kind of credit cards are easiest to get? or what other path should i take?i am wanting to work towards getting a home loan.
2006-08-26 15:13:30 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
Do i understand you ? correct ? You want to expand your I Love Debt score by becoming a bigger slave?
You need to learn Cash is king Credit is dumb.
Visit www.daveramsey.com unlearn what the banks taught you.
2006-08-26 16:23:26 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Hi again Jim,
Why do the other answerers not suggest that you can get a home loan now? It is possible. I know because I work in real estate and have seen it done many times with a similar credit score.
Check out the listing of lenders who will loan to those with fair or poor credit: http://www.lendersrated.com
Of course the interest rate will be higher, but as your make payments (AND BUILD EQUITY instead of throwing away money with rental payments), your credit rating will rise significantly with your home loan payment history.
Then with your improved credit rating, you can refinance at a lower interest rate, possibly even after market rates have risen (because you will get a greater discount for your better credit score).
http://www.LendersRated.com also has some information on companies that sell credit repair kits (expert information only on how to improve your credit yourself).
I hope this helps you.
Leafgreen
2006-08-27 00:55:56 · answer #2 · answered by PaymentKey.com 3 · 1⤊ 0⤋
Getting a secured card is probably the best way to get a credit started. If you have bad credit, dispute anything that is incorrect and make sure you pay everything else off. Start saving money too. Assests are reallly important when you are buying a home. There is not "Fast" way to improve your credit history. History takes at least a couple of years to build. Good Luck.
2006-08-26 22:18:25 · answer #3 · answered by elenanita 3 · 1⤊ 0⤋
Secured Credit Cards are the easiest to get, but are expensive with annual fee's etc.
If you have credit cards or loans now, you have to start paying on time. If you have collection accounts, call the companies and work out a plan with them to pay it. They will work with you.
On your credit cards make sure your current balance is less that 50% of the available balance. This is roughly 35% of your score.
It will take work. I suggest working with someone reputable. Ask friends and families who they used for thier mortgage and if they say he/she was good contact that person and start working on your credit. They will help you in return for your future business.
2006-08-26 22:58:33 · answer #4 · answered by Crystal S 1 · 0⤊ 0⤋
http://www.nohasslebargains.com/loan/id6.html
Credit Repair
Financial Services
2006-08-27 04:02:59 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Credit Score Explained
While taking a decision on your loan approval, your lender will determine your credit score. The most common scoring method used is FICO scores. These ratings are usually used for determining your eligibility for mortgages. This ...............
http://www.debt-loan-refinance-mortgage-credit.com/category/Credit-Score-Myths-Explained.html
2006-08-27 08:24:56 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Go see a mortgage broker and ask them how you should start building credit so you will be able tp purchase a home.
2006-08-26 22:47:58 · answer #7 · answered by Anonymous · 1⤊ 0⤋
If you have bad credit get a secured cr card. pay your bills on time to build a good score
Building Wealth by Reducing Debt
http://www.askaquery.com/Answers/qn1578.html
2006-08-26 23:31:31 · answer #8 · answered by Ans w 2 · 0⤊ 1⤋
pay down balances
get a small loan and pay it off
get a larger loan and pay it off
read suzeorman.com
2006-08-26 22:19:00 · answer #9 · answered by Mopar Muscle Gal 7 · 1⤊ 0⤋
Not correct- it doesn't count against your credit score to check it yourself.
2006-08-26 22:22:06 · answer #10 · answered by CattGirl 2 · 1⤊ 1⤋