This Really Chaps My Ass

[pantherclaw]

Credit is bad.

I know todays world would lead your believe ya can't live without it.

Is amazing how many people have.no idea of the power.of buying things without credit.

[thefuzz]

Boo, if I were you, I would not worry about it and continue on.

You don't need a credit card, just live within your means.

I have seen so many people with trashed credit because of meals out with the family, and putting vacations on credit.

Don't have one, and you won't be tempted.

[h0llywood]

I am not smart about this stuff because I pay for everything with cash/debit but I heard you can take out an unsecured loan at a bank, not spend the money, and repay it to boost your credit score.

This.

Usually when I go on my yearly vacation, I would allot myself a certain amount of money to spend. Let's say I put aside $1,200 for the entire trip (airfare, car rental, hotel, spending money, etc.) I make sure I already have the cash in hand. I would then get a loan from my credit union for the same amount ($1,200) for 12 months and pay it off in 6-7 months. Also do not pay loans off too early. Banks do not like people who pay a 12 month loan off in 2-3 months as they know they cannot really make interest off of you.

I've done this about 3-4 times and having loans paid off completely, on time (a little early), shows great responsibility to creditors. I would say my credit score jumped favorably in the 40-50 pt range in 1-2 years when I started.

Then again as other people have stated above, it really depends on your income to debt ratio.

.....and then credit ratings are sometimes just extremely stupid and make no sense because my wife just went through bankruptcy and she was given a higher line of credit than me. (Banks like peoploe who go through bankruptcies because it shows that they no longer have any liabilities). That really chaps my ass.

[KendrickPanther]

Yeah I have family in debt up to their necks and the credit card companies beg them to sign up for credit cards. I live debt free and they won't touch me.

[DC Amp]

come on over and apply for the Bank of Hawk Card. You might not like the "interest" charges!!!!! :cool:

I'm interested!

[twylyght]

It is far easier to build credit through equity than it is to build it through revolving debt.

[Panthro]

If you travel at all having an Amex is key.

[Panthro]

I'm interested!

watch out for this...

[Ja Rhule]

I feel ya boo. When I applied for my first credit card, I was giving $700 limit. It take a little to build up credit but after that you golden.

[Ja Rhule]

If she got rejected by capital she will likely get rejected by amex. That's the problem.

[Jase]

Retail store credit card. They give these to almost anyone but they have high interest rates. Make small purchases every month and pay off.

Shared secure loan at your local bank. These things are built to bring up a no-credit rating.

I had no credit, too. My first credit card had a limit of $300, lol.

[Mother Grabber]

I feel ya boo. When I applied for my first credit card, I was giving $700 limit. It take a little to build up credit but after that you golden.

I only have one card that has a $750 limit, that I won't allow them to increase over that. I only use it for food, gas, and other regular monthly expenses. That way I know it can never get out of control and I don't have to worry about it getting stolen and charged up. Any major purchases are done through cash/debit.

[DC Amp]

watch out for this...

What!? ya'mean no sasquatch? eh..I'll pass.

[Hawk]

that's me with the antlers...just so you know how this really works!