yall are edemecated good so learn me!
Jun 2, 2009 | 10:17 PM
#11
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From: trussville alabama
Not that difficult, get a card that you have to put a deposit on, and get a small limit like 500 bucks. You do that for a year and they bump the limit up. By that time you'll have enough credit to get another card, or get a small loan. Do both if you can, after that you should be good. I had 3 credit cards and a small loan(3K) in a 3 year span, after that I had good enough credit to buy my truck with lowest rate possible and no co-signer. After the truck is paid off Ill have a good enough credit score to buy a house.
When you get ready to buy a house its not all about your credit either, its also debt to income ratio, so have credit cards but have the balances low on them, and also be prepared to put a good chunk of change down on the house(20%).
When you get ready to buy a house its not all about your credit either, its also debt to income ratio, so have credit cards but have the balances low on them, and also be prepared to put a good chunk of change down on the house(20%).
Unfortunetly credit builds over time. You have to show responsibility and maturity and no-one at that age can show that to the government/industry. You did hit a key point to where you need to have bills and show that you pay them regularly.
If you do get a quad or something don't pay it off immediately...finance it even if you have the money, just pay the bills until it's paid off. Go to your local bank and ask them for a credit card in person and talk with the guy who issues them and tell him what your trying to do and to set you up with a $200 limit. He should be ok with that. When you get it run it up every month and PAY IT OFF everymonth!
Good luck!
If you do get a quad or something don't pay it off immediately...finance it even if you have the money, just pay the bills until it's paid off. Go to your local bank and ask them for a credit card in person and talk with the guy who issues them and tell him what your trying to do and to set you up with a $200 limit. He should be ok with that. When you get it run it up every month and PAY IT OFF everymonth!
Good luck!
i guess talking in person will help my case and just be patient
I work in the powersports industry. If you cannot get approved for a home you will not get approved for an atv. Powersports and luxury Items are the hardest items to get financed. Their are factors like debt to income, credit history, length of credit history. Score alone does not determine credit worthyness. Being that you are only 19, it will be an uphill battle to build good credit. Lucky for you thought, houses are some of the easiest items to finance.
well damn haha guess that idea is shot
Jun 2, 2009 | 11:03 PM
#12
I am 19 and have 2 credit cards. My first was when i was 18, I got it through Kern schools since thats who i have. Got it no problem. Then i got a capital one about 6 months after that with no problems either, I was actually pre-approved by them. I dont see why you cant get a credit card?
Parke10 got his first card at 18 through cap one also. All he did was apply, and he didnt have credit either..
Capital one starts you at $500 limit and every 3 months of paying on time and not going over the limit they bump it up $500 each time..
Parke10 got his first card at 18 through cap one also. All he did was apply, and he didnt have credit either..
Capital one starts you at $500 limit and every 3 months of paying on time and not going over the limit they bump it up $500 each time..
Jun 2, 2009 | 11:10 PM
#13
ok go to sears and apply for a card, go to a chevron or exxon and pick up the paper work to apply for a gas card.
when you get the bill pay it off as soon as you get it.
after 6 months with these apply for a visa, **** mastercard.
any card you have to put money down on is a waste of time and funds.
in fact these type of cards is no diffrent then your own bank card.
after 6 months with these 3 go to the bank and use your truck for a small loan.
2500.00 will do, do not spend the money.
the day after take the 2500.00 and open a savings account and put it all in.
for the next 6 months make your payments, and put 25.00 a month in to the savings.
now after 18 months check your credit for any funny ****.
if you find something contest it and get it removed.
now do not do any thing else for credit until you pay off the bank loan.
the trick is to keep it small and under control.
people think you have to have a dozen cards to have great credit.
wrong, all the bank see is a person with the ability to over extend them sleves easy
with their regular bills that their income cannot cover.
now if you only have a few cards to go with your regular bills and your income
can handel it, you will have good credit.
now for buying a home, most places will ask for 20% down no matter what your credit is, but your credit score will help on the intrest rate you get.
so plan ahead, if your looking at 200,000 homes, save up 40,000 to put down.
when you get the bill pay it off as soon as you get it.
after 6 months with these apply for a visa, **** mastercard.
any card you have to put money down on is a waste of time and funds.
in fact these type of cards is no diffrent then your own bank card.
after 6 months with these 3 go to the bank and use your truck for a small loan.
2500.00 will do, do not spend the money.
the day after take the 2500.00 and open a savings account and put it all in.
for the next 6 months make your payments, and put 25.00 a month in to the savings.
now after 18 months check your credit for any funny ****.
if you find something contest it and get it removed.
now do not do any thing else for credit until you pay off the bank loan.
the trick is to keep it small and under control.
people think you have to have a dozen cards to have great credit.
wrong, all the bank see is a person with the ability to over extend them sleves easy
with their regular bills that their income cannot cover.
now if you only have a few cards to go with your regular bills and your income
can handel it, you will have good credit.
now for buying a home, most places will ask for 20% down no matter what your credit is, but your credit score will help on the intrest rate you get.
so plan ahead, if your looking at 200,000 homes, save up 40,000 to put down.
Jun 2, 2009 | 11:35 PM
#14
Credit cards can help you out. It looks good if you use less than 30% of your credit limit and 10% is the preferred. This shows that you are responsible with your money and you want to Pay it off every month. Do NOT cancel cards.
Having a card looks good on paper because it shows Available credit. If you cancel the card it no longer shows as an available credit to you and can hurt. Also keeping the card active but never using it hurts because the credit card company will stop reporting it and it will not longer show as an available credit toward you.
Also set up a banking account/ savings account. It shows that your stable
Having a card looks good on paper because it shows Available credit. If you cancel the card it no longer shows as an available credit to you and can hurt. Also keeping the card active but never using it hurts because the credit card company will stop reporting it and it will not longer show as an available credit toward you.
Also set up a banking account/ savings account. It shows that your stable
Jun 3, 2009 | 06:37 AM
#15
Credit cards can help you out. It looks good if you use less than 30% of your credit limit and 10% is the preferred. This shows that you are responsible with your money and you want to Pay it off every month. Do NOT cancel cards.
Having a card looks good on paper because it shows Available credit. If you cancel the card it no longer shows as an available credit to you and can hurt. Also keeping the card active but never using it hurts because the credit card company will stop reporting it and it will not longer show as an available credit toward you.
Also set up a banking account/ savings account. It shows that your stable
Having a card looks good on paper because it shows Available credit. If you cancel the card it no longer shows as an available credit to you and can hurt. Also keeping the card active but never using it hurts because the credit card company will stop reporting it and it will not longer show as an available credit toward you.
Also set up a banking account/ savings account. It shows that your stable
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