Help Building Credit

NatiboyB

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Bruh's what are some of the tricks of the credit game have you learned over the years.

My go to move is the secured credit card. You get a 300 dollar secured credit card and every month you use it and pay it off the next month.
 

malbaker86

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the easiest is pay your stuff on time lol.

Also pay off the most recent stuff first since the things that are delinquent are already there and you don't want the recent stuff to go to collections.

Challenge EVERYTHING on ur credit report
 

Sansprix

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Don't ever max it out.

Always pay it on time, and as much of the balance a you can.

Don't have too many lines of credit.
 

MikelArteta

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Guaranteed cc
Don't pay it all off at once leave like a 5 dollar balance rinse and repeat

If you owe creditors don't pay em, after 7 years it gets erased
 

Dank Hill

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792 credit score here. Get credit card, use 10%, payoff before due date, rinse & repeat. The higher your credit limit and the lower your debt to credit ratio=higher score. Maxing out credit cards, lots of inquiries, and too many loans will lower your credit. Also AMEX cards are charge cards not credit cards so it really wont have any effect on your score unless you don't pay your bill.
 

SoulController

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§ansprix™;257312 said:
Don't have too many lines of credit.

this, every store has a damn card these days. no Macy's no Target forget all that shyt

not that you cant pay it, but it can get confusing and all it takes is one neglected bill to shoot it down a good 100 points.

Utilities in your name is huge, even if its water/sewer anything like that with a good payment record is helpful

if you have an unpaid debt and think you did pay, contact the collection company and see if theres anything you can do to make it right. i did that with an old phone bill and my shyt got restored back to 790 status :takedat:
 

MikelArteta

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Amex has charge cards and credit cards

Charge cards have to be paid in full whole credit cards don't

Charge cards also usually don't have spending limits
 

Tupac in a Business Suit

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Charge cards are revolving credit and is good for your score. It shows that you can consistently pay your balance in full monthly. Stay away from store cards. Insurance policies and car lease notes can also help depending on the term on the lrase
 

Dank Hill

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Expand please.

I have two. A platinum one for my business and a gold personal one. When I opened the personal one of course it put a ding on my credit report. The thing is when I check my amex account they both state as having no spending limit and when I check my credit report (I have an account with freecreditreport.com) it states that I have the account open but thats it (no credit limit or nothing) thus having no effect on my credit if I pay it off like I'm suppose to (other than me being late on it that is). The difference between a charge card and a credit card is that I have to pay both of my cards off in full at the end of each statement. Of course with credit cards you can carry the balance and I believe amex carry credit cards now but I'm not entirely sure.

here's an article that explains it better than I can: http://www.nerdwallet.com/blog/2010/charge-card-affect-credit-score/
 

Dank Hill

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Charge cards are revolving credit and is good for your score. It shows that you can consistently pay your balance in full monthly. Stay away from store cards. Insurance policies and car lease notes can also help depending on the term on the lrase

Charge cards are not revolving because they typically don't carry over a balance to the next statement considering they have to be paid in full each month. Revolving=normal credit card with payment options.
 
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