What the fastes way to buid my credit?
Answers:
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General:
Never Borrow on small goods
Always pay on time
Have an overview
Make a budget and stick to it
Don't live beyond your means
Pay yourself first: Always put 10% off your paycheck into savings for emergencies and retirement
Pay on time...
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buy on cash
I think the fastest way to build your credit would be to go to the bank and ask for a very small loan (such as 200-300 dollars), then give them back the money the very next month. Do this several times, and within the year, you'll have very good credit because you have paid back every loan!
Also, everytime you get a cell-phone, it goes on your credit.
Everytime you buy a new car(or finance a car), that goes on your credit.
I hope this helps.
Cheers :-)
make a lot of big over-time-payment purchases and pay the payments on time
To build credit you have to use credit. Small purchases paid off on time or before they are due, better yet, if you have the cash, pay with credit and then pay it off immediately, don't be late.
Credit bureaus keep information about you. They work for the companies that request information about you and that's how they get their income. If you understand this then you can trick their computer system to accept you as a good credit risk.
This is how you do it:
To build a good credit: Borrow and repay a portion of it. Yes, a portion of it. If you pay off the borrowed money you are NOT building good credit. This may sound funny, but that's how the credit system work.
Do this - borrow/payoff a portion of it - for the next 3 months. Then you will be considered to have a good credit. You basically are fooling the computer that builds this information.
go into debt and make your payments on time.
Pay your bills on time, including credit cards, phone, utilities, etc.
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