Ask Experts Questions for FREE Help !
Ask
    beccamc's Avatar
    beccamc Posts: 1, Reputation: 1
    New Member
     
    #1

    Aug 16, 2007, 08:29 PM
    Credit and how to bulid it
    How do I build credit?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
     
    #2

    Aug 16, 2007, 08:34 PM
    I would suggest checking out the answers on the following sites:

    The 4 keys to great credit - MSN Money

    9 ways to build a killer credit score -- MSN Money

    Build Credit - How to Build Credit - Why it is Important to Build Credit
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
     
    #3

    Aug 16, 2007, 08:36 PM
    Here is part of an answer from the site on the bottom above.

    Ways to Build Credit

    It is actually pretty easy to build credit. Try one of the following ideas:

    Ask your bank or credit union about a secured credit card. You can make a deposit to your account and have a credit limit in the amount of your deposit. The bank takes little risk and you build credit slowly.

    Use a co-signer on your first few credit accounts. Lenders will consider the co-signer's existing credit. The co-signer essentially 'vouches' for you while you build credit. Note that this is a big responsibility – you can cause major headaches for the co-signer if you don't pay as agreed (see our page on How Co-Signing Works for details).

    Use retailer programs for modestly large purchases like furniture. For example, you may buy a television on the “$40/Month Payment Plan”. Gas station cards may work as well.

    These programs can be easier to qualify for and they certainly help you build credit. Be sure that the retailer will report your loan to the major credit reporting companies.

    Get a credit card with any reputable institution that will give you one. Again, you have to make sure they'll report your timely payments to the credit reporting companies. Of course, you have to always pay at least the minimum before the due date.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How to buy a house with bad credit, no credit, and no money down [ 22 Answers ]

I'm a mother of two, one 22 who is going to have a baby in oct. who is with the daddy of the baby, he is trying very hard, working all the time. But most of his money is going towards the baby. Then one 17 who is mildy mental retarded, They all live in a one room basement apartment. They really...

My brother's credit debt harming my credit score! [ 2 Answers ]

Just some background information- my brother has many, many debts. (he is a lawyer that just never succeeded and has no real work ethic) So he uses my father's credit cards, pays the minimum amount every month, and he basically lives off my father's credit cards for all of his expenses. My brother...

How to Bulid a Lure Course for Dogs [ 2 Answers ]

I just saw a lure course for dogs in action at our annual Pets in the Park and it was the funniest thing I've ever seen! The dogs were frothing at the mouth to get to the "prey" that was actually a plastic grocery store bag on a continuous cable system powered by a battery. Anyone know how to build...

No credit. Need suggestions for selecting a credit card with low APR [ 2 Answers ]

Hai, I don't possess a credit card till now. I am planning to buy a car by applying loan. My friends advised me that if I pay my loan premium using a credit card, it would help building my credit history. They also told me to look for 0% APR (any such offer for the first year) or less APR to...

Business credit--vs-- personal credit [ 1 Answers ]

I have good personal credit---and good business credit--- are they linked at all -- what if the business folds and the credit is not paid off -- will my personal credit suffer


View more questions Search