I need to boost my credit score.
how do i go about doing this? i've paid off my credit card and about the only MAJOR thing that i have on my credit now is my car loan. of course i have the rent and light bill in my name, but those dont have THAT much impact on the credit score. what measures can i take to boost my score up?
Originally Posted by Sinfix_15
Get more than one credit card and pay it off each month in full.
Also, how is your car loan done? Is a car loan on your credit? Or do you have the amount of money you owe on a credit card?
In technicall terms you are not supposed to take a credit card to pay off a car payment, but it when the your credit jumps up nicely. My buddy who is a member here, is 20 years old and just payed his M3 off onto one of his credit cards and has better credit than both his parents.
I plan on doing the same soon.
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Search MOFO, i posted up info in threads before!
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Paying off monthly does help exponentially.
I just wanted to use that word!
Leisa and S. 4 Life NM?
I hope you have a really low APR on your credit card to even consider such a thing. My car loan is well under 5% but credit cards with a rate that low for more than just an introductory period are not easy to find. You could use a 0% balance transfer offer but those are temporary. It could work with a 0% transfer and a low enough balance to pay it off before the 0% period ends.
Also, rent and electricity have impact on your score.
The best thing to do would be to use your current credit card. Use it on things that you buy every month, not frivolous things, and pay it off every month. One of the best things for your credit is time. Have too many brand new accounts is bad while having a couple of long term accounts is a huge help.
2005 Mazdaspeed MX-5 -1.8L Turbo
go charge something really expensive to your credit card. Take it back a few days later and have them credit it back. The credit card company looks at it as a payment... some old guy I work with said he done that a few times. said it helped a little. how much longer you have on your car loan? once that is gone, your credit should go up quite a bit...
Back to being stock and slow
well i've had this car loan for like 2months so far. my other car was stolen and i had that car for 11 months exactly and about the 12th month the insurance paid off the rest, then i started this new loan. i'm almost done with credit cards although i have been thinking about getting an american express and just putting it in my drawer at home so i wont have a tendency to pull it out and use it. i dont want to go about doing the 'pay off the car with the credit card routine.' having that credit card i had already stressed me out even thought i only had a limit of $1000.
well i already paid off and canceled that credit card, because the company sucked in all avenues, so as far as using my current credit card, i dont think that's an option.
PAY YO BILLS ON TIME FOOL!!!!!!!!!!!!.
^^this n*gga
i said boost not maintain
i was just jokin, but the way you were talkin about your electricity bills, kinda sounded like you werent payin them on time.
You should always leave cards open and just don't use them... unless there is an annual fee. Having an open card increases your time of having credit history.
Unfortunately, a credit card is one of the few ways to build your score. Student loans, a mortgage, those are others but not as easy.
2005 Mazdaspeed MX-5 -1.8L Turbo
electricity and rent and car payments are being made on time. when i first got the CC i was young dumb and full of cum...now i need to get back on my grind and get ish straight. so i paid off that credit card even thought i know that me making payments on it instead of paying off all at once woulda done me much better. i mean i made two big payments on the card to pay it off
so lets say that i get an american express card..and i dont use it...i can build my credit?i WOULD have to put it in use am i right?
It would help some but it will help far more if you use it, even just a little. Plus, sometimes cards are closed if you never use them at all.
2005 Mazdaspeed MX-5 -1.8L Turbo
i just dont want to get caught up like i did before u know what i'm saying? i mean right now i need tires for my truck..its actually a need...either 16" or 18" tires...either way i need tires cuz the 16s will probably show wires in about 8k miles.
i understand small things and pay it off...i guess ill have to get to that...
actually it will still help your credit if you got lets an AMEX or some credit card and just put it away in a drawer for about three months and then pulled it out and started using it.
the thing is that you don't want to have to open many accounts at once because that will hurt you. but if you do open one with AMEX leave the card alone for 3 months than start using it. Do your best to pay it off every month because that is HUGE! if for any reason you end up stacking up a balance on a card it should never be more than 50% of its maximum credit line. for instance if you have a $1000 do not leave more than a $500 balance on that card.
oh and also try not to close accounts if you do not need to. closing accounts can hurt your credit score. its better to just leave them alone
PBS - PM me if you need more info, you can even call.
I've helped people clear up their credit in the past and present. I know a good bit about it.
No charge!
Leisa and S. 4 Life NM?
pm sent..and i'm thinkin about gettin a AMEXpress card
Whatever boy. As long as u have "revolving credit" and pay ontime and usually do not pay ur things off before say... 3 months ur points increase. And not owning to many things on credit also effect it (so I've been told) I mean... in the 7 months I've had credit my score started at 680 somethin and is now 731 and I believe its still rising.
Just keep ur outstanding balance at roughly 1/3 the amount of ur total credit line and it always works. And I kno I didnt answer any questions, but I didnt read nothin.
The lay over time doesnt really matter that much. I started with a ****ty store credit card then got me a AAA card from BankofAmerica. The same principle applies, just keep a nice amount (it doesnt have to be large) of revolving credit, though others know more about this than I do. And it will work in ur favor. Just pay for it and dont get credit happy and run that bish up.
i may do the AMEX card...but i do know about not having more than 50% of the card's balance up
The way to build credit is to show responsibility with it. You will have to use it some to show that. I worked in finance for years. I've seen someone with a 710 need a cosigner on a car because despite the score, he had no history. One account, never used it. The bank asked for more.
Get a card, either pay it off in full every month or never go over 30% of your limit and with time, it will build your credit quite well.
2005 Mazdaspeed MX-5 -1.8L Turbo
If that was directed toward my reply, its 30% not 50%, thats what my aunt does and my other other aunt in Georgia and it obviously works. Unless u just cant help it. I only use my credit card to pay for car insurance and nothing more unless i just HAVE to.
LOL, thats tru to. I was gonna get me a new Civic once and I needed a co-signer for it cuz my history was so short. So I'ma wait awhile longer and try it again. AND DONT CHECK UR CREDIT ALL THE TIME, IT COSTS LIKE 3-15 POINTS DEPENDING UPON WHEN AND HOW OFTEN U CHECK IT.
oh yea i know about pulling credit...fools tried to pull my credit when i went shopping for a car after my car got stolen...buncha jewz lol
i always thought it was 50%...thanks for the insight..and i guess i could do the insurance thing also..
If you pull your credit directly through the credit bureau, like on the website for Equifax, Transunion or Experian, it does not effect your credit score at all. It only effects it when an outside company pulls your credit report.
If you use the annualcreditreport.com site, it does not hurt your credit and it's free.
I have been using a credit monitoring site for years. I can look at my reports and scores any time I want. It's about $16 a month but well worth it for the security.
2005 Mazdaspeed MX-5 -1.8L Turbo
This post is nice.I'm learnin a lil somethin myself Jenn thank u very much. But yes, its a 30% rule not 50%
yea i'm aware of that, but i hated when everytime i went to a car lot they asked to pull my credit and i'm like no cuz i'm not even 50% sure if i want this or not..freakin leeches i swear
Then go to the lot knowing what u can and cannot get, if so convince ur family or whomever before hand to save urself some hassle. Or... just go to those lots that hate on u for having bad credit. Nevertheless yull get a car.
wtf are you talking about? i go there searching trying to find a new car, i look in a car and they come out of the office asking my name then ask to pull my credit report...wtf are u talking about?
I guess its different up here. IDK what I'm talkin bout, lol sorry, I was on my phone.
It's best to go with your own financing. I always have my finance lined up before buying a car so then I can focus on the price of the car, not the payment.
I used to work in auto finance, you wouldn't believe how easy it is to change rate, extend payment terms, all kinds of ways to get someone to pay a lot more for a car than they think they are paying. People focus too much on the payment and not enough on the actual price. People will say "I'll buy this if I can get it for $300 a month." Good job, you just gave the dealership a free reign to do anything they can to get as much as they can out of you for that payment. They will ask for more down, extend terms, anything.
2005 Mazdaspeed MX-5 -1.8L Turbo
i already had my credit union ready for me to do the dance and make my selection. since my car was stolen they worked with me GREAT on everything, even on the last payment on my teg that was stolen. as soon as it was paid off..even before then, they said as soon as i found what i wanted, let them know and they will finance me. so yea i know what i was wanting to pay and when they told me the price i was like ehh...nope, thanks neway..then the jerks still tried to get me to give them info to pull my credit..jerks
Truth was just spoken/typed!
Leisa and S. 4 Life NM?
if you think the major dealerships are bad, try places like drivetime. I was looking at a 2dr 2wd tahoe and they wouldnt even tell me a price on it until they ran my credit. After I was told them I was leaving or they were going to tell me the price they told me something retarded. I think they were asking like 9k for a 12yo truck with over 130k miles on it and it needed a paintjob.
LIRL^^^
away my pops helped me build my credit.. buy your wife jewerly and apply for a credit card with the jewerly store... pay on it every month.. more then the minimum payment and they report every month..
I used to be a salesmen.. like i tell anyone... if you dont have good credit or alot of money to put down... like a couple grand.. do not.. i repeat.. DO NOT.. fucc with drive time... Drive.... book out... or buy here pay here... all NO NO's.... drive time.. if you dont hae your payment in the day its due by 5 pm the shut the car off... (ignition GPS) and you cant turn it over... if you tamper with it it shuts the cars computer system down... plus the intrest rates to all of them are dumb
reps for busting a funny in the wallstreet 'journal'
If you have good credit or alot of cash to put down its even less of a reason to goto a place like drivetime. I've purchased 3 vehicles in my time. 2 brand new and 1 used.
99 Jimmy 3.9% in August of 99. It was extremely low at the time since there was no such thing as a 0%.
02 Crapalier Bought it in 04 used and only paid 4.9%
06 Saturn Vue 0% bought brand new off the lot in Jan 06.
only the Jimmy did I put down more than 2500.
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