I want to move in a year or two but I dont have any credit. I have a neg item on my credit and i just got a

Question

credit card. what else can I do to help my credit so I can buy some land and build a house in Montana?

Answer 1

There is no quick fix for credit repair or building credit. It will take time. ALWAYS pay your credit card on time or early. Being late once will drop your credit score considerably. The more positive items you have the better your credit score will be. Find out if your bank reports loans to all three major credit bureaus. If they do, open a bank account and build it to around $1000 or $2000. Use that account to take out a secured loan. The bank will place a hold on the account until the loan is paid in full. Use the loan check to open a checking account for the sole purpose of making the loan payments, Don't use that money for anything else or you might end up in trouble. This is a relatively painless way to add a positive item to your credit report and shows that you can make regular monthly payments.

The most important thing to remember is to take it slowly. It is very easy to buy on credit, but i can be very difficult to pay it off in a timely manner. Remember, you are paying interest on any balance you carry on a credit card. So that $1.50 bottle of soda can end up costing you $50 before you get it paid off. I doubt any soda is that good.

It can be very tempting to say"I have the cash for this, but it would be easier to put it on the card." The problem with that is: you still have the cash and could end up spending it before the credit card bill comes in.

Credit is very fragile. Respect yourself enough to use extreme caution in how you deal with it.

Good Luck!!

Answer 2

I found a huge online list of Montana local credit card resources. http://www.howtofindcreditcard.com/Monta... Try calling a local service and they most likely answer your questions.

Answer 3

I agree with Thompson but get the loan for 24 months and pay it back in 12

Answer 4

Since you have a year or two. Start today to build your credit. Here are a few ways to do it. http://www.badcreditfixup.com/how-to-est...