Spinoff: what are good ways to build..
Return to Board  •  Menu  •  BottomPage 1
Message
Spinoff: what are good ways to build..
Posted by LSUTigers00884 on 11/13 at 11:55 am
Credit as a college student?
No car note (paid for).



Reply  •  Back to Top
Posted by Crbello4Hiceman on 11/13 at 12:14 pm to LSUTigers00884
Apply for a credit card. Even if they give you a really low credit limit/high interest rate, take it, use it and pay it off on time each month.


Reply  •  Back to Top
Posted by bryso on 11/13 at 12:30 pm to Crbello4Hiceman
call a bank and ask about a credit builder loan.

essentially they give you $1000 bucks you put it in a CD in their bank... then you pay it off over time... at the end of the term you have the CD... basically like buying credit points.



Reply  •  Back to Top
Posted by LSUTigers00884 on 11/13 at 12:31 pm to Crbello4Hiceman
Follow up:
You need 3 lines of credit to buy a house?
Is one credit card one line?
Would I have to get 2 other credit cards (in due time)?



Reply  •  Back to Top
Posted by bryso on 11/13 at 12:36 pm to LSUTigers00884
here are some good student cards
LINK

quote:

You need 3 lines of credit to buy a house?
Is one credit card one line?
Would I have to get 2 other credit cards (in due time)?



I dont think you need 3 lines of credit i think you need 3 credit scores.. so it basically all depends on who your card reports to.

I have 1 credit card... have had it since school. went to apply for a loan here recently and they denied me because i have "thin" credit. essentially my CC was only reporting to 2 of the bureaus...

so the lesson to be learned (you are way ahead of me) is to not sign up for a ton of credit cards but do seek out ways to improve your score...

can you piggy back your parents. ie get added as an authorized user... they don't have to give u a card just add u on their account.




Reply  •  Back to Top
Posted by LSUTigers00884 on 11/13 at 12:39 pm to bryso
Mom is terrible with money-- I refuse to do that-- it will hurt me if I'm added to her account. Might talk to uncle.
Is there any way I can find out if a credit card reports to all 3 bureaus?



Reply  •  Back to Top
Posted by LSUTOM07 on 11/13 at 12:44 pm to bryso
quote:

my CC was only reporting to 2 of the bureaus...


What credit card if you don't mind me asking



Reply  •  Back to Top
Posted by bryso on 11/13 at 12:53 pm to LSUTigers00884
quote:

Is there any way I can find out if a credit card reports to all 3 bureaus?


dont know if you find out let me know



Reply  •  Back to Top
Posted by bryso on 11/13 at 12:54 pm to LSUTOM07
quote:

What credit card if you don't mind me asking



chase freedom.

It was a very small loan. I think 90% of it was the lady not wanting to mess with me.



Reply  •  Back to Top
Posted by CajunTigerBabe on 11/13 at 2:34 pm to bryso
quote:

quote:


Is there any way I can find out if a credit card reports to all 3 bureaus?




dont know if you find out let me know


You can pull your credit report free online once a year. You can also go to myfico.com to look at your FICO scores. I think you can buy 2 of the three scores here. You will have to pay for them. You can pull your credit and your scores as often as you want, and it won't be a hard hit. It is considered a consumer hit. Don't pay to look at any other scores unless they say FICO scores. Most other scoring sytems are bogus and aren't used for anything important.



Reply  •  Back to Top
Posted by KG6 on 11/13 at 3:40 pm to LSUTigers00884
(no message)

This post was edited on 11/29 at 2:59 pm

Reply  •  Back to Top
Posted by TheHiddenFlask on 11/13 at 4:02 pm to KG6
quote:

1. Don't ever close a credit card. Just don't use it if you don't want it anymore.


This is probably the point that people miss most commonly.

quote:

3. Never keep more than 30% balance on a credit card even if it's 0%.


I'm pretty sure historical balances don't matter. I'm not completely sure about every single agency, though. It didn't hurt any of my credit scores when I maxed out my 0% card.



Reply  •  Back to Top
Posted by LSUTigers00884 on 11/13 at 4:53 pm to TheHiddenFlask
This thread helped. I'll look into student credit card. Maybe a CD. and maybe a small loan after that for furniture or something. Thanks!


Reply  •  Back to Top
Posted by bryso on 11/13 at 5:58 pm to LSUTigers00884
Dont pay for credit scores either. I made that mistaken with one of the freecredit.com sites... May more of a headache than it's worth.

Knowing your credit score is pointless anyway. Just practice good credit Health and you should be good when you go to the bank to get a loan...



Reply  •  Back to Top
Posted by LSUtigerME on 11/13 at 6:14 pm to bryso
Luckily my parents did this for me, even inadvertently. They added me to a Sears card when I was ~10 and it still shows up on my credit. Unfortunately, if its carrying a balance, that also shows up. But my credit history is very old due to this, and helps increase the average age of my accounts.

I also did the "credit builder" loan, and opened a Chase Student card (now Freedom) in college. I think my initial limit was $400.



Reply  •  Back to Top
Posted by bryso on 11/13 at 8:41 pm to LSUtigerME
Lol on a credit card at age 10 that is awesome.


Reply  •  Back to Top  •  Refresh
Return to Board
Jump to Page   

           Page 1 of 1           

 

 Message Boards
 Tiger Rant
 Recruiting Board
 SEC Rant
 Saints Talk
 Pelicans Talk
 More Sports Board
 Soccer Board
 O-T Lounge
 Tech Board
 Outdoor Board
 Movie/TV Board
 Music Board
 Political Talk
 Money Talk
 Fark Board
 Gaming Board
 Fantasy Sports
 Food and Drink Board
 Ticket Exchange
 Help Board
 

 News
 LSU
 More Sports
 Sports Lite
 

 Other Options
 >> Search
 

 SECRant.com Links
 SEC Rant
 SEC Recruiting
 SEC Tickets
 Off-Topic Board
 

 Geaux.com Dining Guide
 New Orleans
 Baton Rouge
 

 Site Features (Full Version)
 Home Page
 LSU Football Schedule
 Pick'em Home Page
 
Back to top
Sign In 
View in: Desktop
Copyright ©2014 TigerDroppings.com.