How to build credit

[inishowen]

CC's are ridiculously easy to get. Get one, pay off the balance every month = good credit rating.

or


Go to the bank you have your checking account with. Take out a personal loan. Do not spend the money. Make minimum payments on the loan for a couple months. Third or fourth month pay it all off. Repeat a couple of times.

Potential problem will be your employment. Most banks require that you be in the same job for at least 2 years for a personal loan. You may need a cosignor or have to deposit more money with the bank to qualify.

[XXXNoahXXX]

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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.

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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.

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wtf are you two talking about? He's not talking about signing up for tons and getting free t-shirts, he will be making $$$.

[Big TR]

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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.

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People with great credit can get hundreds of thousands of dollars in credit. They use this credit to do 0% balance transfers offers to their personal bank accounts. They can earn tens of thousands of dollars in risk-free interest income each year.

These people must be morons.

[Big TR]

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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.

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Ron,

You need pretty good credit to do an app-o-rama that is worth the effort. Check out your credit score on one of the sites. If it is good, apply for one credit card and begin charging and paying off the balance each month. Talking to your present bank was a great idea. They might be able to get you setup with a non-secured credit card right off the bat depending on your credit score.

Everyone who is responsible with money should have a credit card. You are basically losing 1-2% on every transaction by paying cash or using a debit card.

[Henry17]

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wtf are you two talking about? He's not talking about signing up for tons and getting free t-shirts, he will be making $$$.

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Yes so? You can make money doing a lot of things. Doesn't make it any less pathetic.

[XXXNoahXXX]

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wtf are you two talking about? He's not talking about signing up for tons and getting free t-shirts, he will be making $$$.

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Yes so? You can make money doing a lot of things. Doesn't make it any less pathetic.

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You said "whatever free stuff you get" which implies a fundamental misunderstanding of what he was considering and how it works.

I'm sorry that you're "above" interest free loans. How pathetic.

[Henry17]

It isn't just me. When this topic was discussed before I actually brought it up to get some opinions from my friends and they agreed. Pathetic might not have been the best choice of words but it is certainly bottom feeder behaviour. To get involved in all this for an extra $6k a year isn't worth it.

[XXXNoahXXX]

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To get involved in all this for an extra $6k a year isn't worth it.

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Henry,

Lets just agree that you hate money.

[Big TR]

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It isn't just me. When this topic was discussed before I actually brought it up to get some opinions from my friends and they agreed. Pathetic might not have been the best choice of words but it is certainly bottom feeder behaviour. To get involved in all this for an extra $6k a year isn't worth it.

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We are glad you and your friends do not wish to make thousands of dollars in risk free money each year. You guys are obviously too baller for this forum.

[Brad1970]

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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.

[/ QUOTE ]

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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.

[/ QUOTE ]

wtf are you two talking about? He's not talking about signing up for tons and getting free t-shirts, he will be making $$$.

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As I said...in case you can't read & comprehend English...is that I'm not against getting cash back, airline miles, or some other incentive for my business. All I said was to be careful. I don't know all the details of Apporama but anytime you do something like this you better read the fine print of the cardholder agreement. This sounds like a trainwreck waiting to happen.