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-   -   How to build credit (http://archives1.twoplustwo.com/showthread.php?t=554950)

Ron Burgundy 11-26-2007 05:18 PM

How to build credit
 
I'd like to know some ways in which I can build a good credit rating. I've never had a cc or taken out a loan.

I've never needed a cc and don't think I'll ever need one. I just want to get a good credit rating so that I can start doing the App-O-Rama. I'm intrigued by anything that involves legally making money without working.

I've done some searching, and people recommend getting a cc where you deposit like $500 and then that's your credit limit. I'd rather not do that because I don't want to tie up $500 unnecessarily. I hope there's another way.

john voight 11-26-2007 05:52 PM

Re: How to build credit
 
if you are young, you can get a card, and make your parents buy and pay stuff off on it.

dont apply for multiple cards; rejectionwill show up on your credit score

what you are talking about is a secured card, which is prolly easier to qualify for b/c you actually make a deposite, and get credit equal to deposite (dosnt that negate the whole "credit thing")

bottom line is: if you do the secured card thing, for say 5-7months (make all your payments, etc..) I am sure you could qualify for a card thta would not tie up your money.

take this FWIW, b/c iim only 21 and have had a cred card for no more than 7 months, so IDK if all my info is accurate.

Ron Burgundy 11-26-2007 06:05 PM

Re: How to build credit
 
I'm 25 and play poker for a living.

Brad1970 11-26-2007 06:20 PM

Re: How to build credit
 
Be careful with the whole 'apporama' garbage. The credit industry & consumer protection laws were not designed to go open a bunch of credit accounts just to get a few goodies. I'm not opposed to getting something in return for my patronage but if it sounds too good to be true, it probably is.

Henry17 11-26-2007 06:55 PM

Re: How to build credit
 
I'm 34 and have never had a CC either. I just have never had any need for one. If you want to build credit just get two secured credit cards.

I would also advise against the apporama garbage. Honestly it is embarrassing to get involved with [censored] like that. Whatever free stuff you get is not worth your self-respect.

ArturiusX 11-26-2007 07:17 PM

Re: How to build credit
 
How did you guys first deposit into poker without a CC?

SamuraiJon 11-26-2007 08:07 PM

Re: How to build credit
 
debit does not necessarily mean credit card. Additionally, you can also dep directly from a shady bank with a checking account.

Ron Burgundy 11-26-2007 10:16 PM

Re: How to build credit
 
[ QUOTE ]
Honestly it is embarrassing to get involved with [censored] like that. Whatever free stuff you get is not worth your self-respect.

[/ QUOTE ]

What?

I've made around $50K from casino/poker bonus whoring and I haven't lost any self-respect. If some company is offering free [censored] I'm glad to take it. Maybe I'm just not as pompous as you.

However, if someone can show me that it's not worth my time in terms of $/hour, that's different.

Ron Burgundy 11-26-2007 10:24 PM

Re: How to build credit
 
[ QUOTE ]
How did you guys first deposit into poker without a CC?

[/ QUOTE ]

Here's all the ways I've deposited:

!) checking account > poker site
2) checking account > neteller > poker site
3) debit card > poker site
4) debit card > Paytru card > poker site

TheSalche 11-27-2007 07:35 AM

Re: How to build credit
 
I'm 21 and got a credit card a few weeks ago that gave me $30 off a purchase plus 1 - 3 % cash back. It's connected to my checking account, and I basically use it the same as a credit card. Limit isn't much right now ($800), but I figure I'll eventually need to get a different one and building up the credit slowly can't hurt.


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