SERIOUS thread about building credit - SERIOUS posters only

[SpyWizard]

Free Credit Reports Credit Repair Counseling Increase Your Credit Score Debt Consolidation

this is the single best site for information and credit...

50% max on your credit limits per card
3 max
no inquiries (the link tells how to get those off)

Car loan small and paid off
home loan
merchant account *you might not be able to get this one..

 

[-SD-]

If your credit is at 400 you arent getting financing anytime soon for no motorcycle. If you do get financing by chance, the terms will be fucked on your end (high interest) and it wont be worth buying the bike after you pay 3 times the sticker price once its paid off. I would say its probably going to take at least 3 years for your credit to make significant progress. Building credit takes time bor, no two ways about it.

 

[miplank]

sorry, but a $300 CC isn't going to do shit for your credit. Yeah, it may raise your score but it's a false positive.

That's not enough for a bank to take any risk on you.

 

[ceo]

I just want enough credit to buy a bike for 10,000

Oh, well...that is SERIOUS indeed!

I honestly thought you might foolishly be thinking of purchasing a home in the future, and wanted to build up your credit for that. I'm glad to see you want to use your credit to finance something so practical as a motorcycle.

If you must buy a bike (because I know how completely necessary that is, and it's way more practical than having a good car). Buy a used bike and pay cash. You'll probably wreck the fucking thing anyway.

This was a SERIOUS reply.

 

[the.gladiator1987]

lol I wanted a bike because its cheaper than a house and it would help build my credit up. It was either a bike or a car.

 

[iggy]

thanks guys, the wells fargo banker girl told me that a secured credit card could get me 100 points on my credit score in a year, of course my credit score is probably around 400. Horrible I know.

So the best way is to just be consistent with the credit card I have now (capital one), and maybe get a secured card later? I just want enough credit to buy a bike for 10,000

shit bro....
mine is like 475 and C C companies still won't approve me for a credit card.

 

[bakemeacookie]

lol I wanted a bike because its cheaper than a house and it would help build my credit up. It was either a bike or a car.

So you're willing to spend an extra $3,000 in interest to build up credit so you can save money later down the line??

Save that $3k and collect interest and use it as a down payment instead. Dont' use credit to buy stupid things like groceries, clothes, plasma tv's, etc. THAT'S what gets most americans in trouble. I bought a house even though I barely used credit. Had high income, high down payment, affordable house, shopped around, great rate = too easy.

c

 

[ceo]

lol I wanted a bike because its cheaper than a house and it would help build my credit up. It was either a bike or a car.

Yes, a bike is cheaper than a house, but I wasn't aware you could live/sleep/shower/etc. on a bike.

So between a bike and a car, you are going with the less practical option of a bike?

 

[redshirt27se]

buying a $10,000 bike you can't afford doesn't seem like the most responsible thing to do.









But I actually did just read a study that has shown apricot seeds have credit rebuilding properties.

 

[the.gladiator1987]

Yes, a bike is cheaper than a house, but I wasn't aware you could live/sleep/shower/etc. on a bike.

So between a bike and a car, you are going with the less practical option of a bike?

no ill probably go with a car. honestly it doesnt matter what I buy, i just wanted to buy something and pay it off which would really help my credit. Ill probably buy a car though and have a high down payment with cash so even if my credit isnt good i can still get the car.

Im gonna use my cc for gas and pay it off every month