Can owning property help to re establish credit?

i have very low to no credit and trying to build. i have a 20 acre property in my name and was wondering if and how i could use it to rebuild credit score

Answer:
The only way that helps is if you mortgage the property -- even at 20% value, and use that to build up a payment history. A bank would probably loan you without much trouble becuase there would be such low risk. You could also use it to pay down card balances (keep them under 35% for the best scores).
See if the bank will loan you money with the land as equity, and then make sure you pay it back on time each month.
No you're going to have to apply for a credit card, but don't put your property up as collateral. Apply for a card with Centennialcard.com since they work with people who have no credit, bad credit to re-establish themselves and check your report in a year by getting your free report from Annualcreditreport.com
Owning a property does not improve your credit rating, unless if you did finance it and you are making the payments for it.

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