Announcement

Collapse
No announcement yet.

Best Ways To Build Credit?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Smallsteps
    replied
    It would make a difference if you are trying to build from nothing as opposed trying to fix a mess.

    The credit factors that effect a certain persons score are generally laid out in any place you can access your score. debt to income / on time payments etc.
    I would always check your record with the yearly free report to make sure items are correct on it.

    Leave a comment:


  • disneysteve
    replied
    I agree with the others. Pay your bills on time. Don't carry a ton of debt. Keep your utilization ratio low.

    One of the biggest factors, which you can't influence, is time. The longer you maintain good habits, the better your credit will be.

    And don't let the tail wag the dog. Don't do things specifically to try to boost your score. Just do the right things and your score will be just fine. Don't borrow money specifically to boost your credit score.

    Leave a comment:


  • jamespeter
    replied
    Hi, improving credit score is a bit easy when maintaining your monthly financial budget perfectly, paying your utility bills, grocery bills or any debt repayments on time without fail. There are high chances to improve your score when going for a little loan which is affordable to repay on time so that it gives a genuine trust impact on the credit file.

    Leave a comment:


  • scfr
    replied
    Are you asking about people who are young or new to the US and have no established credit record? Or people who have a poor credit rating and are trying to improve it?

    Leave a comment:


  • TexasHusker
    replied
    Good credit. Hmm let's see here.

    Rule number 1. Pay bills on time.

    Rule number 2. Don't forget rule number 1.

    Leave a comment:


  • Fishindude77
    replied
    Originally posted by bjl584 View Post
    My credit is excellent in spite of the fact that I've never made it my primary goal to have good credit.
    I think that having a good credit score as your primary financial goal is misguided.
    If you have good financial habits, don't pay your bills late, and don't have too much leverage, then your credit score is naturally going to rise and be healthy.
    My thoughts also.
    Never worried about my credit score.

    Leave a comment:


  • bjl584
    replied
    My credit is excellent in spite of the fact that I've never made it my primary goal to have good credit.
    I think that having a good credit score as your primary financial goal is misguided.
    If you have good financial habits, don't pay your bills late, and don't have too much leverage, then your credit score is naturally going to rise and be healthy.

    Leave a comment:


  • kork13
    replied
    1) Pay all of your bills on time/early -- never late.
    2) Don't carry high debt balances... Desirably, pay balances in full, and never carry a balance month to month.
    3) Repeat steps 1 & 2 for 10-15 years. Long-term good behavior with debt is the only way to get a high credit score.

    Note: The above strategy for a high credit score (780+) is radically different than how you repair bad credit. To repair credit, you need to:
    A) Get current on all of your bills
    B) Repay or settle old, bad debts (stuff in collections)
    ​​​​​​C) Pay down/pay off all of your debts
    D) Avoid accruing more debts at all costs
    E) Follow steps 1-3 above.

    Alternately, just don't bother worrying about your credit score, and just avoid debt like the plague. High credit scores tend to mean you've paid alot of money in interest (mortgage, auto, credit card, student loans, etc). I'd just as soon prefer the "100% cash down" strategy. No payments, no interest, just financial security. Yeah, I like the sound of that.
    Last edited by kork13; 03-05-2019, 08:18 PM.

    Leave a comment:

Working...
X