How to build credit

[bluef0x]

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I don't think you are understanding my point. It isn't about credit score. I don't care about my score since I have never bought anything on credit and I never will.

I don't see why it is so hard to understand that a few thousand dollars is not worth risking the possibility of having people look down on me.

I do believe that everyone is connected by X degrees of separation and I do believe that people talk and gossip a lot.

Even if no one ever found out I would still know and I'd feel pathetic for doing it. No amount of money is worth that.

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lol, you are an idiot.

[Thremp]

Hrm. I think I just spotted an error in my earlier judgement. You would just need a 100% cash advance on initial cards and then you can balance xfer them into oblivion?

This doesn't make it as outlandish as it initially seemed to me.

[DoubleDealDecker]

OK. Here is what you do...Also, I don't have the energy to read the past 120 posts,so...whatever.
Number one--- pay all your bills on time, water, electric, loan shark, whatever.
Number one, part II --- Get your hand on a credit card. Department store, gasoline, or especially a Mastercard, Visa,or Discover. If you have to make a deposit, that is fine, if you have to pay 60,000% interest, that is fine. What you need to do is establish a credit rating in the computers, then nobody cares.
OK...Now what?...Number one part 3...don't gamble with it.
Now Number one part 4.--- Buy stuff, but do not max the card
out. To start with, don't go over 30% of your limit.
Next, make some payments... not the minimum or the max, but
kind of pay some, but pay the credit company some juice. They want to make money, but they don't want to make money off of people who need it.
Next part III... every 3-4 months pay your credit card down
to zero. You have now let the credit card company make money
and proved to them that you don't need the money. Guess what
comes next? Answer, more credit, usually it takes a year.
Rinse and repeat. After a while you will curse the mail carrier for bringing you all those tiresome pre-approved credit card offers.
Whatever you do, do not f*** up the first credit card you get your hands on. You can get more +EV out of it that most
gamblers will ever make in their lives.

ps Even if the account is only for $100 or 2 cents, it is still worth doing if it gets you into the Computer.

[bluef0x]

Umm, secured lines of credit are pretty bad. You don't have to buy stuff with your card (but getting 1-5% back is nice). DON'T PAY THE CREDIT CARD COMPANIES JUICE. It's a waste, they don't need your money.

Please, if you learn one thing from this thread, let it be that the majority of people don't know what the [censored] they are talking about.

[DoubleDealDecker]

The topic of this thread is how to build credit. Credit is built by accepting less than favorable terms... such as deposit credit cards, high interest credit cards, paying juice.
Secured credit cards are not 'pretty bad' --- they are terrible for anyone with a good credit rating, but they are absolutely great for someone without credit trying to establish credit.
As for myself, I live in a land of endless credit, credit offers, rebates, and wouldn't even consider a card that didn't give me free stuff, just like I would not consider staying in a Casino that didn't give me free stuff.
If you have not established credit, do, pay, sacrifice your first born children, worship Beelzebub, marry Brandi, or whatever it takes. Just get your hands on any form of credit that puts you in a national data base.

[bluef0x]

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Credit is built by accepting less than favorable terms... such as deposit credit cards, high interest credit cards, paying juice.

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Wrong.

[DoubleDealDecker]

Right.