Debt.
- Thread starter Smoke
- Start date
this is illogical. and of course that will give you great credit, you just won't be very profitable to them. you will still be seen as conservative and a low risk though, which in turn means high credit score. 50%, as james and others noted, is too high - i believe it is around 30% where they start punishing you for carrying a significant balance. unless you have 0% or low (probably not on any credit card) rate then it's just silly to carry that amount month to month. then you are just a sucker paying a lot of interest. $0 bal on a $10k card is not risky. $5 or $10k is riskier for obvious reasons.
FFFFFFFFFUUUUUUUUUUUUU the "good night sweet price" banner is up... damnit.
Anyways, you better find some damn wood (pun intended) to knock on, or that karma shit is gonna hunt you down! You'll NEED a lil blue pill to get that junk up by the age of 40 mr I'm all that and a bag o chips.
My credit score hovers near 690-700 but ive got some decent debt (cc's) to go along with it. Which is why it isnt even better than that. Ive managed to keep my rates low for the most part and transfer balances throughout the years to keep interest in check. I think thats the best part of having good credit. I was able to keep getting offers for low rates for years and still only having 2-3 cc's open at any given time. Not that having 2-3 cards is a good thing but as long as you manage them well it can be very benificial. (at least for me it was) Having paid off 15K in student loans along with not being late on any major accounts or rarely anything for that matter has put me in a good credit situation. Getting the 35K loan for the G8..no problem!! 
My first loan was when I was 18ish when my mom co-signed on a car loan for me. Ever since then ive never had anyone co sign for me again. Now im kicking on 30's door. Things can always change you just have to make it happen!
My first loan was when I was 18ish when my mom co-signed on a car loan for me. Ever since then ive never had anyone co sign for me again. Now im kicking on 30's door. Things can always change you just have to make it happen!
right, it has to do with the amount of your total revolving credit that you are using at the moment.
Smokinhot
3-man rules!!!!
alsono credit built up = fucked down the road
i got my first credit card when i was 19. My credit was great (710, 1 year ago) and was able to buy my house 5 years later
It does take years, but not many, 3 years ago when I bought my car, I needed a co-signer, and I purchased a home, I didn't need a co-signer, me or my GF could have done the mortgage individually(slightly higher interest rate though)... I'm only 23, so it can't take that long to build credit considering I had none 3 years ago......... But it is all about budgeting, and living below your means, If you make 60K, live like your making 40K.... never in debt, and you'll have extra cash for "rainy days"
by your logic, the larger a credit limit the riskier the person. obviously this is illogical because it is conservative users that get the larger credit limits.
Yeah, don't trust what this guy Eagle is advising.
Again, do your own homework, don't listen to some random guy on a car message board that isn't a financial expert.
When I talked to my mortgage guy he told me the best way to get instant credit history and sometimes bump your score up 50-100 pts in a day is find a family member with a SEARS credit card. I guess sears is the only company that reports DAILY to the credit bureaus. Get put on as an authorized user on that card, you instantly have credit history for however long that person has had that card. He also told me DO NOT pay off the cards to zero balances. The cards I had at the time were 500-1000 limits he said 100 on the 500 and 300 on the 1000 would help more then 0.
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