I need to boost my credit score.

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Originally Posted by blaknoize

Well FUK. I went and took out a loan to "boost" my credit and it docked me like 17 points!!! I went from a 719 to a 697. Thats some bull****!!

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Some other factors could've been involved there.

U CAN HAVE A BUSINESS CARD W/O A BUSINESS???

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Originally Posted by Schugg

dont close one credit card to open another,

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nothing wrong with that. Balance transfers can help BIG! Just don't close a JC penny and open up a Riches Macy's if you know what i mean.


You're right though Seasoning is big, it's good to show accounts with long histories with 0 derogatory items. That can build a strong profile.


In you're particular case, your account balance -to- credit limit ratio did it for you.

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Originally Posted by PBS

U CAN HAVE A BUSINESS CARD W/O A BUSINESS???

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Actually yes, however Tax IDs/EINs are free form the IRS.

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Originally Posted by PBS

U CAN HAVE A BUSINESS CARD W/O A BUSINESS???

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Yes... just MAKE one and call it a business card. Ladeda

ladadeda? lol.

okay so i read up that its actually not wise to close down a credit card. that closing a card can actually hurt your credit score?

http://www.credit.com/credit_informa...t-Mistakes.jsp

I've paid off several cards and carry a ZERO balance with them.


I made a mistake and closed an account before, I was like 17 or 18 then. I thought that if 'you' close an account, it STOPS Accruing interest.

BOY WAS I WRONG!

yeah its pretty lame. thats why i just let my cards sit there and let the history run even if im not using the card. i think its much better to leave it there and not use it than close it..unless your getting charged an annual fee or something..

o well..its too late now..the account is closed now

Closing accounts FTL

PBS (implied) Anti-racist sig FTMFW:D

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Originally Posted by blaknoize

And... as Jimmy said above, u can just take out a loan, dont use that bish, just have that money, through it in a savings (so u can build at least a lil interest, credit union baby!!) then just pay that loan back with the money u've taken from that loan company. Thats what I'ma do

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:thinking:

If I understand this right...

1. Take out a loan (can I take a studet loan?)
2. DO NOT USE IT
3. Put it in a savings account/CD whatever jst DO NOT USE IT
4. Pay it back at the end or the CD or whatever, KEEP THE INTEREST

This builds my credit by... taking out the (student?) loan or paying back off a (student) loan? OR does it just enhance my credit score because I got money in the bank :bump:

Shawtay what Equifax thank??? Lol, or........EXPLAIN/DISCUSS POR FAVOR

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Originally Posted by PBS

o well..its too late now..the account is closed now

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No worries, jst FYI to help you boost/keep your credit score up :D

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Originally Posted by lilmanx01

:thinking:

If I understand this right...

1. Take out a loan (can I take a studet loan?)
2. DO NOT USE IT
3. Put it in a savings account/CD whatever jst DO NOT USE IT
4. Pay it back at the end or the CD or whatever, KEEP THE INTEREST

This builds my credit by... taking out the (student?) loan or paying back off a (student) loan? OR does it just enhance my credit score because I got money in the bank :bump:

Shawtay what Equifax thank??? Lol, or........EXPLAIN/DISCUSS POR FAVOR

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Well, I'm doin exactly what ur thinkin right now. So... I cant tell u till its over.
I took out a small loan and am going to put it into a C/D or Roth IRA account and just pay it back later so that I make some money while its there.

but in a ROTH IRA you cant pull it out...till your like 60. So when would you plan on paying it back?

I'm in the proc of taking out a student loan for 3.5k so i can stash it away into whatever