Oh ok that does make sense. Thx.

Thanks. I haven't used it in over three years but I have had the account for ten.

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I paid off all of my cards, but I'm just not going to use them. I prefer maintaining the credit as it increases your points. Creditors look at the amount of credit you have versus the amount of credit you spend. The lower the ratio, the better.

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3C/4A

I just told my self I want to build my credit up I have a small credit card with Capital one that I make sure is paid on time. I was told loans can build up your credit how true is that and should I get one through my credit union ??


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I have my college dorm on my report so now I cant rent an apartment... I let my mother talk me into moving in saying she was going to pay the rent and didn't for the last two.. So I owe hem almost 2,000... I really want to get it off but don't have the money because I'm still in college.💜


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Loans of $1000 and more can boost your credit score over time. Initially, you lose about 10-20 points for opening new credit, but I usually notice after paying on time for 12-18 months, it picks back up and then it helps your cause especially if you pay it off or pay on time. I pay mine completely off as I notice some credit agencies lower your total balance due as you pay your credit card down. So instead of showing that you have a $5000 total credit limit, it reflects the amount of credit you have at the time. So, if you owe $1000, some credit unions reflect that your credit limit is only $4000 when in fact it is higher. May be the banks who are submitting the info this way to make you seem a bit unattractive to other potential lenders so you have to go through them for everything...who knows? Either way not a fair process, but yes opening a line of credit eventually works to your benefit if and only if you need to establish credit.

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Joined Team BC April 4, 2012 at 5:47 pm in Uncle Funky's Daughter hair salon in Houston.
3C/4A

Work out a payment plan. Find out if work study or other means of paying it off. If you get financial aid, put $2000 towards it. You don't want to stain your credit. It hurts in the long run when you want to buy a house at a good rate or get a car. You already know that, but if I were you, I would talk to the school to see what options I have as far as payment arrangements given your financial status.

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Joined Team BC April 4, 2012 at 5:47 pm in Uncle Funky's Daughter hair salon in Houston.
3C/4A

Thanks for the info I just want a decent credit score I have witness bad credit && I know for a fact that's not what I want so I guess I start looking into a good loan to open??




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Bad/slow credit will definitely keep you from doing the things you want to do.

The passing of time, paying your bills on time every month, and keeping your balances low are really the only things that will improve your score.

When I (alone) bought my first house in 2000, my credit score was about 580. That 580 was from paying slow and having too much credit.

Back then, I had way too many credit cards. Finally tired of trying to juggle all the payments, I got a loan from my credit union in 2003, paid off all my credit cards, and closed every single thing except for one major credit card. My credit took a small hit for closing the accounts, but I was fine with that.

To this day, I use my credit card, but I pay it in full each month that I use it. The only time that I deviate from paying it in full each month is if I put a large purchase on it, then I will divide it up into three payments. My credit score has been over 800 since about 2005.

You are entitled to a free credit report from each of the three credit reporting agencies (Transunion, Equifax, Experian) once per year. To get your free reports, go here: https://www.annualcreditreport.com/cra/index.jsp

If there are items on your credit report that you have paid off or that contain erroneous information, you can dispute those items directly online with each agency that is reporting the incorrect items -- the removal process is quick and easy.

The one piece of advice that I give to my 17 year old is to protect her driving record and her credit report. Both of these items will prevent you from doing the things or having the things you want in life.

When I apply for credit of any kind, I know I will be approved, and that is a really good feeling. Being debt-free is an even greater feeling.

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very good information given ^^^^