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LSUTigers00884 
LA-Lafayette Fan
Lafayette
Member since Oct 2011
652 posts
| Spinoff: what are good ways to build.. (Posted on 11/13/12 at 11:55 am)
Credit as a college student?
No car note (paid for).
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Crbello4Hiceman 
LSU Fan
Lurking
Member since May 2011
384 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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bryso 
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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LSUTigers00884
LA-Lafayette Fan
Lafayette
Member since Oct 2011
652 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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)?
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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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LSUTigers00884
LA-Lafayette Fan
Lafayette
Member since Oct 2011
652 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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?
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LSUTOM07
LSU Fan
Baton Rouge
Member since Dec 2011
274 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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
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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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
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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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CajunTigerBabe
LSU Fan
Lafayette
Member since Sep 2012
206 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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KG6
LSU Fan
Member since Aug 2009
661 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 at 3:40 pm to LSUTigers00884)
(no message)
This post was edited on 11/29 at 2:59 pm
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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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LSUTigers00884
LA-Lafayette Fan
Lafayette
Member since Oct 2011
652 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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!
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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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...
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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
177 posts
 Online
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 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.
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bryso
Clemson Fan
The Real Death Valley
Member since Dec 2006
26810 posts
| re: Spinoff: what are good ways to build.. (Posted on 11/13/12 at 8:41 pm to LSUtigerME)
Lol on a credit card at age 10 that is awesome.
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