i was curious to what the fastes way to build good credit fast without any prior credit history
2007-09-20 08:39:51 · 8 answers · asked by ryan g 1 in Business & Finance ➔ Credit
naturally pay your bills on time.
revolving credit weighs more on the fico score than installment loans. So having a credit card is better than a car loan. The age of your accounts also plays a big role. Another thing you want to look at is your overall utilization. You want to stay below 30% at all times. So if you have a Visa with a limit of $1000.00, do not charge up more than 300 bucks, or you will take a hit in your credit score.
So to make it simple:
You need a good credit history with revoloving accounts, utilization less than 30% on all accounts, and credit age.
2007-09-20 08:53:42 · answer #1 · answered by nursebob 4 · 0⤊ 0⤋
Pay your bills on time. Good credit comes with long term on time payments.
Go to your bank and apply for a credit card. You may have to go with a secured card (you give a depost as collateral). Charge on the card and pay it off in full every month. After 6 months or so, you an apply for a regular credit card.
2007-09-20 08:54:56 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
You will first need to get a credit card. Use it and pay it off every month and do not spend over the limit that the bank gives u. Capital one has several good credit card offers to people who are new and have limited credit history.
2007-09-20 10:12:27 · answer #3 · answered by John S. 3 · 0⤊ 1⤋
its a fabulous line. i've got been examining up on it and what facilitates build your credit is to have a stability on the oldest card you have and make the month-to-month money plus alittle greater. So paying all of it off at as quickly as wont injury your credit, even yet it may no longer advance it the two. i think of it relies upon on what number you have open with a stability and what the finished stability is. I examine additionally which you shouldn't in any respect have greater desirable than 50% of the entire cut back used. because of the fact which could positioned a unfavourable on your score.
2016-11-05 23:29:37 · answer #4 · answered by pedrosa 4 · 0⤊ 0⤋
I don't know if it is the fastest way, but one way to help your credit when you have no history is to get yourself one credit card, and charge things and pay them of each cycle. You could charge grocery items, gas, anything.....just make sure to pay the balance on time. It will show that you can handle debt, and pay for it on time. The key is timely monthly payments though!
Good luck!!
2007-09-20 08:48:45 · answer #5 · answered by Just Me 6 · 0⤊ 0⤋
all i can tell you this if you have bad credit from small things like that costed you like 20 to 80$ that u never payed for is stupid to do.becuase its not work the trouble for prices like that and dont pay credit card bills using other credit cards.
2007-09-20 08:52:03 · answer #6 · answered by Anonymous · 0⤊ 1⤋
You can raise your credit score.
First you have to learn how to eliminate bad spotd from your credit.
You can do it yourself or take help from experts.
Here are some tips How to Evaluate and Raise Your Credit Score
http://fhurl.com/b1420
Best of luck
2007-09-21 02:05:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Used car loan - but only to the extent that you pay it back - try a 12- or 24-month loan.
If you are late or miss a payment, you are screwed. Be very very careful.
And slow down.
2007-09-20 08:48:07 · answer #8 · answered by Anonymous · 0⤊ 1⤋