I m trying to build credit , but can't because i have none!! How do i get credit ??
Answers: The way that I got started was to buy a stereo on store credit. It was one of those no interest for 3 months things with sky high interest after that. I had the money to pay cash for it, but financed strictly to start building credit. Other ways are small personal loans from your bank and a credit card that you pay off in full EVERY month.
Get a gas card (Exxon, Mobile)
After you will get tons of offers in the mail
When I didnt have any credit I applied for a credit card through Capital One and got approved. It was only a $200 limit for 3 months if I paid on time and then it got boosted up to $400. Now it just keeps going up.
I have to make decisions everyday on whether to approve or deny people that apply for credit. If I had to give advice to people that are trying to start out building credit, this is the advice that I would give:
1. Open a checking account- While opening the account doesn't directly build your credit, it does create a relationship between you and the bank by being an accountholder. Banks love to cater to their preferred customers that have accounts in great standing by offering loans and credit cards. Also, having a checking account not only helps manage your money, but it gives you the most powerful tool in building credit, a checking account to help pay your bills on time. Most banks and credit unions offer online banking with billpay that can make it easy for you to pay your bills on time, which is important in building credit.
2. Open a secured credit card- Secured credit cards are the easiest credit cards to get, mainly becuase a security deposit is placed upfront in order to establish a line of credit in the same amount. For example, if you deposit $250, your credit limit is $250, and so on. The deposit isn't used to pay for any of the purchsases on the card unless, it was charged off and sent to collections, so you would have to repay it just like a regular card either in full or minimum monthly payments. The deposit is sometimes linked to a savings account, so it earns interest while you're building credit, so the deposit isn't sitting there. You can think of this as building credit with a savings account. The more you deposit, the higher your limit, which is good for your score because it creates a cushion between the total debt you owe and the credit you have available. Also, by continuing to add to the deposit, you're also creating an emergency fund at the same time. A good way of using the card is by making small purchases ($20/month max) and paying on time every month while adding to the deposit. Usually after a year or so, the card either converts or upgrades to a regular card, and most importantly, the deposit is given back, which you can place in a savings account as an emergency fund.
3. Enroll with PRBC- PRBC is America's Alternative Credit Bureau, providing a helpful service to the over 50 million people with limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:
Rent
Cable
Phone
Daycare
Insurance
Electric
Natural Gas
Cell Phone
The only time your payments for these bills are reported to the other credit bureaus is if they're missing or late.With PRBC, your on-time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC offers two simple ways to start building credit today.
In closing, just a few more things to keep in mind.
-Don't spend more than 30% of your combined available credit on all your cards.
-Only apply for credit when necessary.
-Dont close unused accounts.
-Pay on time
Hope this helps...
Thanks for reading and...
Good luck!
Try Orchard Bank at http://www.creditfast.com
The fees are lower then a lot of cards.
If you have no credit, then this might be helpful to you
http://bestcreditcardratings.com/no-cred...
http://bestcreditcardratings.com/bad-cre...
I would resembling to know something just about this loan site up to that time I sign up for it acceptmycash loan?
I WANT TO KNOW THE ANSWER TO THIS WUESTION BEFORE I SIGN UP FOR THERE SERVICES.THANKS
Answers: i have used them. The fees are base on many things, so how could you schedule them.
I used it for xmas money and paid it subsidise right away. It worked for me. I was not competent to get a loan anywhere else.
online 'loans' are as worthy as payday loan sharks.
do not sign on anything.
contact local bank or acquire 2 more pt/tm jobs.
Instead of this outfit, shift to WWW.PROSPER.COM. They are legit and you are in the drivers form. I asked a question going on for them earlier today, enjoy since spent about four hours questioning and researching, and they are well agreed. there be even a story on them in the Washington Post, so they are much more legit than those payday loan places.Good Luck!
Credit card outcome... oblige?
if i accept a $5,000 check from credit card A, to which i can brass at my bank, and after take partially of that amount ($2,500) to pay stale credit card B... could i take the remaining $2,500 and payment it back to credit card A? i realize that after i bread the check into cash, credit card A have no way of knowing what i do next to the funds - even though they told me i couldn't use the funds (any of the $5,000) to make payments to them. would they find it suspect if i made a clearing of $2,500?Answers: Based upon what you are saying, you hold a credit card that has a signficantly lower rate than a second card and you want to hold advantage. I agree near answerer above who suggests using a balance verbs. It might be cheaper as a promo than a cash mortgage, which is what you are contemplating. Also, remember that most cash advance come with a payment (usually 3% of the balance advanced) so you will hold an additional $150 added to your harmonize borrowed. The balance verbs going to another card might be the way to progress but check out the card's terms.
Finally, to answer your specific request for information about using the remaining $2500 to wages back to credit card b right away, is fine. What they aim by that language is you can not use your finance from one card to pay a debt to the SAME company on a different card or debt. For example, if you enjoy two Providian cards, and you owe money on one, you can't get a lolly advance and use that to income off the other debt on the second Providian card. Once you change the check/cash advance, they are not going to know how the dosh was used anyway.
You could do what you describe. But beside that type of financial planning it sounds like you'll be within the spin cycle for a while.
Another plan might be to; Don't borrow from credit card A, speak with credit card B and discuss alternate repayment option. You might want to get surrounded by touch with a credit counselling agency while you still enjoy your sanity, your self-respect and the shirt on your vertebrae.
Sleep well.
you can absolutely pay past its sell-by date CC A with it's inspired money. However if you only call for 2500 rather than going through the hassel of have to make a reimbursement back to them for the extra money. I would see if they would loan you a moment ago the 2500 or rather than taking a check and depositing it see if they'll only do a balance verbs and pay the 2500 you owe to CC B and that channel you don't have to move about through all the extra hassels. Most credit card companies won't engender you take out a minimum. or if they're offering you a check for a indubitable amount a lot of times if you hail as them you can get like peas in a pod offer but contained by the form of a balance verbs to to CC B and for only the amount that you obligation it.