I need to build my credit quickly and was wondering if there are any tricks of the trade out there
2006-10-24 05:02:45 · 8 answers · asked by Shane W 2 in Business & Finance ➔ Credit
Just keep paying your credit card bills.
2006-10-24 05:05:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Obtain a credit card with a small manageable limit. Like $300 thats usually the lowest that is obtainable without getting a secured card. Charge a couple things and pay it off. Do not carry more than 50% of the balance if you cannot repay it all. Show regular, on-time payemnts and your score will rise. DO not be late. Most cards have a standard APR and a defualt APR. If you go over your limit of are late just once you will be adjusted to the defualt, which can be significantly higher. Also remember that banks makes big money on credit cards. You will not pay off the card in a short time making the minimum payment. You just make teh CEO rich and build additions to his already luxurious home
2006-10-24 12:15:42 · answer #2 · answered by Digging for answers 3 · 0⤊ 0⤋
Well, I just turned 18 and needed some quick credit, so if you're a student like me, you can get a credit card with a low spending limit, and just make sure to pay the FULL balance asap. Like me, I only use the card once or twice a month, then i immediately go home and pay it online. But do whatever is best for you, and ALWAYS make full payments the month that it's due, so you don't accrue any interest.
Good luck!
2006-10-24 12:12:26 · answer #3 · answered by pollofabulous4927 2 · 0⤊ 0⤋
you can do it two way
1. you can beat the creditor by really finding his terms and conditions. Means read clearly how many days he gives you a credit( usually Citi bank gives 45 days) you can avail credit till 44days on the 45 day make a payment again either on 47 day buy some thing on credit card again rotate your money in some other business, again avail 45 days credit. this is how u can smartly beat the bush.
2.keep on crediting till the last penny , see what happens.
2006-10-24 12:27:34 · answer #4 · answered by madguy 1 · 0⤊ 0⤋
try to stay away from dept store cards they bring ur credit down more then any other one. also if you dont have a credit card get one and use it on something like gas every week and continue to pay it ON TIME. credit is all about paying on time. u can pay the min for years if u want long as its on time they see it as great credit. KEEP YOUR DEBT TO CREDIT RATIO DOWNNNNN
2006-10-24 16:38:48 · answer #5 · answered by gottiluvstisha 1 · 0⤊ 0⤋
Okay, you're not going to do this overnite. Take ten percent of each paycheck and deposit the money in a savings account. Do this each payday for two years. The money you have saved can be used as collateral(did I spell it right?) on a house or car.
2006-10-24 12:48:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no tricks ,,, just pay you bills on time , that is all you have to do ,,,, there is no such thing as building quick credit...
2006-10-28 10:53:33 · answer #7 · answered by RED WHITE AND BLUE 4 · 0⤊ 0⤋
borrow and pay back ontime. Borrow and prepay the loan before it is due.
2006-10-24 12:05:45 · answer #8 · answered by Anonymous · 0⤊ 0⤋