What's the best way to build your credit ? - Tilted Forum Project Discussion Community

LLL2 · 02-12-2005, 12:08 PM

So I need to build my credit,I wondering what is the best way to do this ? Should I get a small loan and save it and just pay it off slowly for a year ,or should I get a credit card and pay it off.I called the bank the other day all they do for a CC is 500 dollars.

flstf · 02-12-2005, 12:20 PM

I'm not sure but I was told during the credit check for my last mortgage that just having a credit card and paying off the balance each month improves your credit rating. That way you don't have to borrow any money or pay any interest if you get a card that gives you 20 days or so from receiving the bill to pay without additional charges.

NoSoup · 02-12-2005, 02:30 PM

This was a bit lost in the quantity of threads, but...

NoSoup's Guide to Obtaining and Maintaining Excellent Credit

02-12-2005, 12:08 PM	#1 (permalink)
LLL2 Crazy	What's the best way to build your credit ? So I need to build my credit,I wondering what is the best way to do this ? Should I get a small loan and save it and just pay it off slowly for a year ,or should I get a credit card and pay it off.I called the bank the other day all they do for a CC is 500 dollars.

02-12-2005, 02:30 PM	#3 (permalink)
NoSoup Non-Rookie Location: Green Bay, WI	This was a bit lost in the quantity of threads, but... NoSoup's Guide to Obtaining and Maintaining Excellent Credit __________________ I have an aura of reliability and good judgement. Just in case you were wondering...

02-12-2005, 12:20 PM	#2 (permalink)
flstf Easy Rider Location: Moscow on the Ohio	I'm not sure but I was told during the credit check for my last mortgage that just having a credit card and paying off the balance each month improves your credit rating. That way you don't have to borrow any money or pay any interest if you get a card that gives you 20 days or so from receiving the bill to pay without additional charges.