does anybody know whats the best way to start off my credit score with out applying in every store like crazy?
2007-01-20 07:51:11 · 7 answers · asked by moniquita 3 in Business & Finance ➔ Credit
Applying in every store like crazy will start off your credit score, most likely BADLY. If you have a checking account at a bank, apply for a credit card there. If you can't get one with your bank then you can get a "secured" line of credit where you make a deposit and then get a credit limit equal to your deposit. These are normally very fee driven accounts so you have to be careful to not go over your limit or miss payments etc. Most of your credit score is driven by the length you have had credit and your payment history. The rest is driven by your available credit and the inquiries (which is why you don't want to apply like crazy). If you get a credit card and pay it well and gradually get increases in your credit limit without using your available credit you will gradually work your score higher and higher.
2007-01-20 07:59:36 · answer #1 · answered by Scott C 2 · 0⤊ 1⤋
The easiest way to start your Credit would be with a Department store charge or gas card. Give it three tries and if no success, then get yourself a secured card thru your bank. Try to stay away from companies like Premier Bank or Orchard. You really do no want to keep applying for card cause it only brings your score down. Once you get your card try to keep your balances as low as you can without paying them totally off. This way it will show a history and within 6 months you should be able to get an unsecured Credit card.
2007-01-20 16:14:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Don't apply to a bunch of stores. Just find one credit card, as low of an interest as you can, and make a small purchace on it once a month, and pay it off in full every month for a year or 2, that will give you good credit. Don't go over the limit, or miss a payment date.
2007-01-20 16:00:22 · answer #3 · answered by Em C 5 · 0⤊ 0⤋
First don't worry too much about it, just make sure that the things you do don't hurt your score. The biggest mistake young people make is that they want to buy a bunch of "stuff." Don't do that. Wait until you can afford it and/or save to buy certain things. Don't charge it. DONT GET STORE CREDIT CARDS. Get a (one) Visa or MC and use that but not as source to buy things you just want. Do not build up charges that you can't pay off every month. Don't charge food or other non-durable items unless you know you can pay it off at the end of the month. You don't want to be paying 17% interest on a damn cheeseburger! If you don't have the money for it, then you can't have it. Challenge yourself, try to become part of the maybe 5% of young people who don't make the huge mistake of starting adulthood with heavy debt!!!
2007-01-20 16:07:09 · answer #4 · answered by The Scorpion 6 · 0⤊ 1⤋
Open a small account in a small store like a jewelry store. Get a inexpensive item under $200 and use their in house financing.
Ask if they report to the credit bureaus each month. Don't be afraid to tell them you just turned 18 and what you want to do with starting to build your credit.
They will see the opportunity and will be willing to help you. Its a win/win situation for both sides.
http://www.disputedemon.com/credit-score/
2007-01-20 16:03:58 · answer #5 · answered by CreditScoreBooster 2 · 0⤊ 2⤋
Get a prepaid credit card. Get one that's about $300 and buy something off of it every month. Try to keep it under $200 and make sure to pay it off every month. That's what I was told.
2007-01-20 16:02:55 · answer #6 · answered by Angie, Raised by Wolves 3 · 0⤊ 0⤋
shop to the minimum
like once a month
2007-01-20 15:58:41 · answer #7 · answered by Bru 3 · 0⤊ 1⤋