what is the fastest way for me to build my credit?

5 Comments on "what is the fastest way for me to build my credit?"

1. voluntarheel

   says:

   February 10, 2013 at 5:07 pm

   Well if you must use credit the best way to build your score is to not abuse it. The key is to pay your bills on time (not even 1 day late). Do this for a few months and you’ll be building your credit quite nicely. The only way his credit helps you is that it allows you to get the loan – but his good score doesn’t necessarily help your score. But pay your loan on time and it’ll increase.

   Reply
2. Justin says:

   February 10, 2013 at 4:38 pm

   you need to get a low credit line credit card and charge 1-2 hundred on it a week and then pay it off after one billing cycle this will build your credit

   Justin

   Reply
3. lawnranger69ishere says:

   February 10, 2013 at 3:55 pm

   There is a “Credit Pursuit Game” that actually works well. What you need to do is to take $ 500 to $ 1000 to a locally owned bank in your area. (If you don’t have the cash, borrow from a friend or relative or sell something(s) you own until you do). Take the cash to this locally owned bank and ask to see a personal banker. Tell them you want a loan for the amount of cash you have and will secure the loan with a CD placed on deposit with their bank. There isn’t a bank in the world that will deny this request.

   Here are the next steps to the loan. Before the banker cuts you the check for the loan proceeds, tell him/her that you want to make the first two monthly payments right away out of the proceeds. Then, wait one week and then go back and ask for the personal banker you got the loan with. Pay the 3rd monthly payment in the 2nd week. Continue to pay this loan off monthly after this, but ALWAYS go in and make the payment in person with the banker you worked with.

   This process will not only build your credit score (make sure the loan is for a minimum of 6 months or whatever the min. term is that the particular bank will report the the credit bureaus) but also will build a great relationship with this particular bank. Your file will say “Pays Better Than Agreed”!

   I know of a teacher that used this to build up credit with differing banks of over 1 million dollars over a few years to buy and refurbish houses in the summer months. It works and works well.

   Hope this has helped and Good Luck!!

   Wes
   Norsew Investments, LLC
   Rochester, MN
   The Personal and Business Coach
   http://www.replacemypay.com

   Reply
4. Ted says:

   February 10, 2013 at 3:28 pm

   You are not really building any credit as the lender is relying on your father as the endorser. Take out a small loan, put the funds into a collateralized account, and then make regular payments not from that money, but from your income. The bank is safe with the collateral and you will get credit for your payment history if kept up to date.

   Reply
5. Dr. Kirkland says:

   February 10, 2013 at 3:28 pm

   get a Sears credit card
   only use 60% of the credit line

   go get a secured credit card
   put money into it
   use 60%

   apply for another credit card (non secure)
   use only 60% of the available credit

   (in all cases: pay 25% over the minimum payment amount indicated on your statement)

   Reply