What are baby steps you can take to improve your credit?

  1. tdebrick profile image60
    tdebrickposted 8 years ago

    What are baby steps you can take to improve your credit?

  2. Sweetsusieg profile image83
    Sweetsusiegposted 8 years ago

    Start by making sure all of your current bills get paid on time.  If you have any outstanding debts, get those paid.  Avoid at all costs applying for credit cards.  You know the kind, you walk into the store and someone offers you a 2 liter of soda, or 5% off your shopping bill if you apply.

    Keep you car insurance paid (this is very important because they are running credit checks).  Try to prevent anyone from running a credit check at all.  These show up on the 3 major credit bureaus. 

    If you must have one credit card, that is fine.  Keep your total available credit at a low of $200 if at all possible and then, don't use it.  If you must use it, pay it off by months end.

    After that, once your credit starts getting good, if you should find the need to get a loan or credit of any kind, you interest rate should be a bit lower. 

    Lenders charge a higher interest rate for a lower credit score.

    Hope this helps!

  3. ddsurfsca profile image73
    ddsurfscaposted 8 years ago

    I got this answer from a financial advisor that gave out loans for homes.  He said to first open and maintain a savings account with money in it, the amount growing slowly without withdrawing it.  A little later open a checking account, making sure you have overdraft, and use the account to pay bills and it is ok to use the overdraft, just make sure that every month you come into the black and the account is restored as it is supposed to be.
    The the next step would be to get two or three credit cards, like a gas card, a card from, a department store and a regular visa.  Use them all between 20 to 50 % and pay them.  In other words, if the visa card has a $2000 limit, then use it in the amounts between$400 to $1000 to buy something, like a sofa, and pay it off, then use it again the same way. In other words, dont max them out only use them to the half way mark and pay them off.  After doing this and not letting any of your bill slide, like the lights, gas, etc. You will build you credit sufficiently in a year or two to be able to get a loan on a house.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)