Xtac
join:2002-04-14 | Question about switching
Currently I have ool under my mothers name. Is there a way I can switch it to mine without going to a cablevision center. No this is not so I can snag a deal , I just want to build my credit ;0 |
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JoshNJ
Premium
join:2001-12-25
Freehold, NJ
| said by Xtac  :
I just want to build my credit
CV does not normally report info to credit reporting agencies. If you owe them a lot of money I would imagine they would report it.
As far as changing over the account name, I believe you need to go there.
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"Religions are all alike - founded upon fables and mythologies." - Thomas Jefferson |
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Xtac
join:2002-04-14 | reply to Xtac
what's a way I can build up my credit, I got only a student loan, saving and checking account. I think this is probably off topic though, but already started a thread.. |
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chappy10
join:2001-12-22
Huntington, NY | reply to Xtac
get a credit card, make some purchases (be considerate)
and pay your debt slowly
usually just a lil over the minimum payment
this will show you as never having a late payment |
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Bichon
Premium,MVM
join:2002-10-10
Freehold, NJ
| said by chappy10 :
get a credit card, make some purchases (be considerate)
and pay your debt slowly
usually just a lil over the minimum payment
this will show you as never having a late payment
Uggghh, you don't need to pay usurious interest rates to build a good credit report.
Get a rewards card like Discover. Buy the things you usually would buy with cash, such as filling your tank with gas, on the card. Pay your balance in full each month.
You'll establish a history of timely repayment, you'll earn a small cashback bonus, and you'll get into the habit of using credit responsibly. |
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JoshNJ
Premium
join:2001-12-25
Freehold, NJ
| reply to chappy10
said by chappy10 :
and pay your debt slowly
That is a very bad idea, if you do that your credit report will show that you carry balances (and high ones after awhile) over for long periods of time, which will bring down your credit rating... follow what bichon said and do get a credit card and pay for the things you normally buy with cash, just be sure to pay in full every month
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"Religions are all alike - founded upon fables and mythologies." - Thomas Jefferson |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ
 ·Verizon Online DSL
| reply to Xtac
Get a credit card. Pay your balance in full each month, making sure you mail your payment so they receive it before the due date.
Don't get too many credit cards. Don't even apply for extra cards, since too many inquiries is a red flag. Wait 6 months after you get one before getting another.
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"We know where they are."
» Donald Rumsfeld on Iraq's weapons of mass destruction, March 30, 2003. |
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toolazy2login
@optonline.net
| Like others have said.. Pay your bill in full each month, no late payments! Always pay full!!!
BUT unlike what the person above me said... get a few cards and use them from time to time, even if you only use one of them more than the others.
When i went to buy a car, the fact that i paid my bill in full, had a perfect credit record etc... was all fine and dandy but the salesmen was like "but you only have 2 cards"
Which shocked me, because i thought it was far more important that i had paid in full, month after month on time. My credit card bills have all been consistantly high also, so i was shocked to be looked at as if i "only had 2 cards"
I ONLY NEED 2 cards.. i pay them on time... they serve their purpose...
Anyways the salesmen said get a few cards, it'll help build up teh rating even higher... Which is funny because i pay all of my stuff on time and in full.. so one would think that is a perfect rating  What can one do that is more important than PAY OFF their DEBT on time, and in full?
So get a few cards.. Even if you buy gas on one card one week, and one another etc... just use them, and pay them in full constantly on time. |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ
·Verizon Online DSL
| I mainly meant not to apply for something like four cards all at once. The inquiries show up on the credit report, and too many inquiries in a short period of time is an indicator of fraud.
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"We know where they are."
» Donald Rumsfeld on Iraq's weapons of mass destruction, March 30, 2003. |
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Bichon
Premium,MVM
join:2002-10-10
Freehold, NJ
| reply to toolazy2login
said by toolazy2login:
When i went to buy a car, the fact that i paid my bill in full, had a perfect credit record etc... was all fine and dandy but the salesmen was like "but you only have 2 cards"
Which shocked me, because i thought it was far more important that i had paid in full, month after month on time. My credit card bills have all been consistantly high also, so i was shocked to be looked at as if i "only had 2 cards"
Like most other things you hear at a car dealership, that one was a lie too.
Opening extra credit cards that you don't need will likely lower your credit score, not raise it.
Check out the tips at this site run by Fair Isaac, the company that calculates your "Fico" score, used by many lendors for approval and interest rate decisions:
»www.myfico.com/myFICO/CreditCent···dTip.asp |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ
·Verizon Online DSL
1 edit | This is exactly what I was talking about earlier:
quote:
If you have been managing credit for a short time, don't open a lot of new accounts too rapidly. New accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.
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Xtac
join:2002-04-14 | Excellent, I will take these things into consideration.
Thank you all. |
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dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
| reply to Xtac
Another thing to think about if you're just starting out in life (got your first but not great paying job) is to go for what they call 'gimmie cards' e.g. a pennys or sears card, then once you got one of those most likely you'll get a pre-approved visa or mastercard. nobody wants to be the first one to extend credit to one without credit history and a denial on your report gives you a pretty big hit so go gimmie cards first.
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You can never be too rich, too thin or have too much Bandwidth |
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