Fastest Way To Build Credit Score?

suggest anything that has worked for you.

i posted the same question at a different website and somebody said to: open a checking account then ask the bank for a loan of $500-$1000, well maybe not right away. when its due date, take that money back and pay the bank (hopefully you won%26#039;t spend it). keep doing this for a few months and that%26#039;ll give your credit score a boost. %26lt;---- has anybody tried this?

i%26#039;m willing to do anything as long as they%26#039;re legal and won%26#039;t make me end up at the opposite side of %26quot;good credit%26quot;

Fastest Way To Build Credit Score?

Some things most people don%26#039;t know.

1. Paying off your credit card balance every month does not help your credit rating. If you are NEVER carrying over a credit balance, then you aren%26#039;t establishing a %26#039;credit rating.%26#039; Pay off balances every chance you get b/c credit card debt DOES hurt you, but keep one card (perhaps a zero interest promo for 6 months) that you carry forward the balance for a couple of months and THEN pay off.

2. Every time someone checks your credit history, you lose points. So if you are thinking about buying a new house and all new furniture on credit, ask for a COPY of the credit report the mortgage company runs and give it to any prospective NEW creditors so they don%26#039;t run your history all over again. Too many bumps (checks) in short order raises a red flag.

3. If you have absolutely no credit established, put $500 in the bank and ask them for a share secured card against the $500 you have guaranteed. After 6 months or so of a good payment record, other card offers will begin arriving in the mail. Don%26#039;t say yes just b/c they%26#039;re offered. At best you need one or two cards only. One for regular purchases that can be paid off at the end of the month and one for emergency purchases (like major car repairs) that it may take a little longer to pay off.

4. Never buy something you couldn%26#039;t pay cash for. Keep your credit to a minimum. You never know when you might lose your job or some other unforeseen catastrophe that you would suddenly not be able to make your payments. If you never let your debt get unmanageable to begin with, you have the best chance of maintaining a good credit history.

5. At least every two years, check your credit report for inaccuracies. My husband and I have both had bad credit listed on our report that was another driver%26#039;s license and social security number even though the names matched! When you do find inaccuracies, send a letter to all three major credit reporting agencies reporting the error. Follow up to be sure they correct it.

6. Keep your ratio down. Even if you have fantastic credit, if your credit to income ratio is high, you may be denied future credit.

My husband and I have always followed these simple principles and are now purchasing a home. When the mortgage company ran our credit report, we scored 804 out of a possible 820.

Fastest Way To Build Credit Score?

Opening an acct and getting a loan is a bit overkill, but will work.

Try just getting a couple credit cards, buy some cheap items, and be sure you pay the bill in entirety each month.

Fastest Way To Build Credit Score?

Ill check back later see what kind of answers you recieve but last year i took a loan from my bank (against my savings) for $5000 and i paid it back within a year... i did not see a difference in my score. Then again i did go over my limit on 2 of my cards!

I%26#039;ve read in different articles as long as you pay down your debts, do not open any more cards and make conistent payments your score goes up within 6 months 50 points.

Fastest Way To Build Credit Score?

Here is an ezine article that i found very helpful in building credit score.

http://ezinearticles.com/?10-Ways-To-Boo...

Fastest Way To Build Credit Score?

I would apply for a credit card and cut it up. If you do want to use it, pay it off every month. This is vital if you want to avoid the credit trap.

This book has some great info on how credit services judge your rating: http://www.amazon.com/gp/product/1600200... and it also has some clever ways to make a few extra hundred dollars in the mean time!

Good luck

Fastest Way To Build Credit Score?

Become an authorized user on someones account that has excellent credit. If you don%26#039;t know anyone with great credit then there are a couple websites out there that will do it for you. Search for it.

Fastest Way To Build Credit Score?

Having a good credit rating, helps a consumer get a loan or credit at better rates and for larger amounts.To know %26quot;How to improve credit rating, credit score%26quot; plz follow link-

http://k7c.info