WhaT iS YoUr cReDit ScoRe?

Question

What is the Fastest Way to Build your Credit?

best answer, to the most efficient 'good credit' tips!!!

Answer 1

I agree with Carlton he deserves the best answer!!!

Answer 2

Apply for a whole bunch of credit cards, but DON'T USE any of them. Low balance-to-limit ratios can spike your score.

Finance big-ticket items and make your payments on time.

Answer 3

yeah, what Carlton said.

Answer 4

1.  If you already have credit cards, continue to make small purchases and pay at least the minimum on time.  Do not use more than about 20 to 30 percent of your available limit or it will work against you.  What's factored into your score is the balance that your credit card company reports to the credit bureaus, which is normally the balance that appeared on your most recent statement.

2.  If you have poor credit and only have a secured card, make sure that it reports to the three major credit bureaus so that you're building a history with all three. Also, you'll want the secured card to convert to an unsecured card after 12 to 18 months of on-time payments because unsecured cards are better for your score. If your card doesn't offer that conversion feature, look for one that does.

3.  Check your credit reports. Make sure there are no errors, including accounts that aren't yours.

4.  Pay your bills on time, all the time. One late payment can quickly trash your score.

5.  Apply for credit sparingly. You don't want to put in a bunch of applications all at once, although you probably do want to have more than one card. Consider applying for a gas or department store card now and another credit card in a year or so. Use the cards regularly but lightly and pay off the balances promptly.

6.  Consider an installment loan. An auto loan or small personal loan that's repaid according to schedule can help boost your score.

7.  Find a relative with an long-held credit card with a low balance and a great payment history and  get added onto their account as an added as a joint or authorized party.