How to build your credit

1. STAFF

   HubPagesposted 14 years ago

   How to build your credit

   replyreport
2. 60

   dabeanerposted 14 years ago

   Make a lot of money.  Buy things you don't need with a credit card.  (You may have to start out with a card where you deposit the amount of your limit.)  Pay most of your balance off each month.  You will have to leave some increasing balance so they can make some more money by charging you usury (interest).  After awhile, you will be an important income source for the banking/credit industry.

   replyreport
3. 57

   yoshi97posted 14 years ago

   I just wrote a hub on this as it's a bit complicated to answer in a small area such as this. My approach was one of repairing credit, but the same methods work for building it.
   
   The one thing to remember is that it takes time to rebuild your credit just as it does to build it - and that the quickest way to build credit is via a legitimate secured credit card (issues by a bank - not a merchandiser). These cards are easy to get (as they are secured against the money you pay for them) and if used wisely (for small monthly purchases totaling less than 25% of the card's value) and always paid on time (prior to the billing date), they ca raise your credit score quite a bit in just a year's time (in my case, enough to purchase a house).
   
   For those wanting to know more about how your credit is scored and how to repair it, I wrote up this hub - enjoy!
   
   http://hubpages.com/hub/How-to-fix-your … port-score
   
   And to dispel a myth ... credit companies are not interested in how much you make, so much as they are concerned with how well you repay your debts.

   replyreport
4. 62

   Caleb Andersonposted 14 years ago

   Keep you balances low on all revolving accounts. Don't make any late payments and try to resolve any accounts that may have fallen into default. Try to avoid declaring bankruptcy as well. Good luck.

   replyreport
5. 39

   Balineseposted 14 years ago

   if you can always pay your  credit card bill, and any other loan on time.   but will take time to build to have agood credit but worth it if   never  late or miss any payment of your loan or credit card bill, the best  is  use direck debit payment - bank automatic  will  take money from your account - and you wont worry about any miss or late payment.

   replyreport
6. 55

   Pauline C Starkposted 14 years ago

   replyreport
7. 56

   PeterinCanadaposted 12 years ago

   Establishing a credit history can be a nightmare for lots of people – you can’t create a credit history without credit, and you can’t get credit without a credit history! Whilst there aren’t any quick fixes – it takes time to establish a good credit history – there are plenty of easy things you can do now to help you on your way.

   replyreport