 credit, how does it work |
 Oct 4, 2006 - 11:30 AM
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 Enthusiast  Joined Mar 14, '06 From Mary Land Currently Offline Reputation: 0 (0%)  |
I just got an amex credit card. im new to having my own credit card. always went through my parents card (but it had my name on it w/e that means). i just got it cause i wanted to start building my credit. i dont completely know what that entails but i got one anyway lol. i basically just figured to get a car or house in the future i need credit so ppl will approve me. so is credit just using your card and paying bills on time? and if you do, you get a good credit score? is that basically it.
btw i got credit $2000. that sounds like a large amount to me given that i dont have that much a month lol. esp since i dont work right now. but sounds good to me lol. i just found it interesting cause my friends all started out with around 500 and i clearly didnt lol. |
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Replies
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Oct 4, 2006 - 2:53 PM
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 Enthusiast Joined Feb 10, '03 From Connecticut Currently Offline Reputation: 11 (100%) |
Why would your score drop if someone looks at it? Lenders & banks dont know your score off the bat so how are they supposed to make a decision w/o first looking at your score?
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Oct 4, 2006 - 3:25 PM
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 Enthusiast Joined Sep 4, '03 From Twin Cities MN Currently Offline Reputation: 2 (100%) |
QUOTE(Supersprynt @ Oct 4, 2006 - 2:53 PM) [snapback]487541[/snapback] Why would your score drop if someone looks at it? Lenders & banks dont know your score off the bat so how are they supposed to make a decision w/o first looking at your score? Notice the lack of logic- welcome to the wonderful world of credit  QUOTE(confucious @ Oct 4, 2006 - 2:58 PM) [snapback]487546[/snapback] paying it off right away doesn't build credit as much as paying it monthly. +1. Paying in lump sums dosen't show creditors a history of responsiblity. -------------------- Car #3: 98 Accord LX- purchased 5/06, totaled 8/06
Car #2: 95 Celica GT- purchased 8/03, current daily driver Car #1: 01 Focus ZX3- purchased 5/01, sold 8/03 |
Posts in this topic
Toyoca credit Oct 4, 2006 - 11:30 AM
BlackCelicaGT94 dont go charging up a storm. i got one at 18 and i... Oct 4, 2006 - 11:53 AM Supersprynt Amex wouldnt be my choice but I pay my MC off ever... Oct 4, 2006 - 11:55 AM Toyoca i wont ever charge over any amount of money i cant... Oct 4, 2006 - 12:26 PM orvillescelica You got it right. I have a credit card... I charge... Oct 4, 2006 - 1:15 PM mzztoyota Just make sure you pay everything ON TIME, I think... Oct 4, 2006 - 1:21 PM Toyoca is there somewhere to look up my credit score for ... Oct 4, 2006 - 1:22 PM mzztoyota annualcreditreport.com is supposed to provide you ... Oct 4, 2006 - 1:27 PM saleeka If you started out with a $2000 limit, you al... Oct 4, 2006 - 1:32 PM confucious in regards to building your credit, buy something ... Oct 4, 2006 - 2:58 PM Supersprynt That doesnt make much sense. Responsibility is sho... Oct 4, 2006 - 3:29 PM
saleeka QUOTE(Supersprynt @ Oct 4, 2006 - 3... Oct 4, 2006 - 3:51 PM saleeka in a way it does make sense- but only for the cred... Oct 4, 2006 - 3:46 PM uberschall whoever originally said to buy something reasonabl... Oct 4, 2006 - 4:18 PM Toyoca k so basically just pay off whatever amount they s... Oct 4, 2006 - 5:26 PM quicknstyle dont just pay it off, but then again dont just pay... Oct 5, 2006 - 11:11 AM Toyoca i dont believe i have interest but im not sure lol... Oct 5, 2006 - 11:41 AM Ale_lock QUOTE(Toyoca @ Oct 5, 2006 - 12:41 P... Oct 6, 2006 - 1:11 PM BlackCelicaGT94 My reccomendation is pay more than the minimum due... Oct 5, 2006 - 1:05 PM bufferdan Pay it off in full everytime its due...dont be pay... Oct 6, 2006 - 9:44 AM bufferdan btw....amex blue card is nice. Its my favorite... Oct 6, 2006 - 1:14 PM quicknstyle QUOTE(bufferdan @ Oct 6, 2006 - 7:44... Oct 6, 2006 - 1:23 PM JonCars17 I don't have any credit, but I just got a cred... Oct 6, 2006 - 1:59 PM bufferdan [/quote]
cell phones dont count positively towards... Oct 6, 2006 - 2:30 PM confucious BUT as far as BUILDING credit, why buy a new thing... Oct 6, 2006 - 3:02 PM My2Celi Thats exactly what im doing. I buy stuff with my c... Oct 6, 2006 - 3:39 PM BlackCelicaGT94 So I have a credit question onw
My parents have g... Oct 6, 2006 - 5:34 PM saleeka /\ yes your score is affected, good or bad...... Oct 6, 2006 - 5:43 PM BlackCelicaGT94 Yeah i was a lil pissed to find out when Express d... Oct 6, 2006 - 5:58 PM saleeka I dont know about you, but I would be FURIOUS if I... Oct 6, 2006 - 6:04 PM BlackCelicaGT94 I dont think its forging. I think they call and sa... Oct 6, 2006 - 6:11 PM bufferdan QUOTE(confucious @ Oct 6, 2006 - 8:0... Oct 6, 2006 - 7:50 PM confucious QUOTE(bufferdan @ Oct 6, 2006 - 7:50... Oct 7, 2006 - 6:24 AM Ale_lock Nice link, gimmeh more info! Oct 7, 2006 - 3:28 AM |
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