Raising/Developing Your Credit Score?

Question

Is there any way to raise your credit score with your debit card or other means if you dont pay any utility bill

I want to know how to build your credit score from scratch to get a credit card

Answer 1

If you are a student like me, get a citi credit card (www.citicards.com). You can earn points to earn rewards and there is no annual fee. Plus as long as you pay your bill on time, your credit score will increase. The best way to increase your score is to use as little percent of your credit limit per month as possible. So if you have a $2,000 credit limit, try to only use , say, 10% of your credit limit monthly. That means that you would spend no more than $200 each month.

Hope that helps!

Answer 2

Using a debit card will have no impact on your credit score due to the fact that any purchases that you make on a debit card are automatically deducted from your account. This is not like using a credit card when you make purchases and then repay what you charged. The key to building credit with a credit card is to make consistent on-time payments. Key words CONSISTENT and ON-TIME. That is what credit bureaus look for when they are calculating your credit score. If you skip payments or do not pay the required amount, it will have a great impact on whether or not you will receive a good credit rating. I would say that the easiest way to start building credit is to get a low-limit credit card, make small purchases, and pay them off monthly. That way you are showing that you are making a payment consistently each month. Another way that you can start to build credit is through a line-of-credit account or to borrow money using a co-signer.

Answer 3

Debit cards and utility bills do not report to the credit bureaus. In order to build good credit you need to start building a good history. You need to partner with companies that will report to all three (3) credit bureaus, but won’t pull your credit. Crown Jewelers is a great company that will give you a small credit line and report to all three (3) credit bureaus. Easy approval.

http://www.crownjewelers.com/

Second, open a secured credit card. New Millenium Bank is an excellent choice. They won’t check your credit and report to all three (3) credit bureaus. You can even pay your bill online.

http://www.nmbonline.com/

Revolving trade-lines are highly weighted in credit scoring, so keep your balance –to- credit limit ratio low. Never miss a payment. Before you know it you will be on your way to better credit.

Answer 4

yes ,pay on time,when you have other obligations in the future they will look at your income and expenses then go by that and also your on time payments.