What are some ways and methods you personally did to build your credit score?
>>1268587
Paid back everything for the past 40 years
Get a credit card. Use 5% of it
I have a near perfect credit score. Mid 800's.
Building for the wife now.
We throw everything on here credit card and pay it off before the end of the month. That's all I did to get my score over 800. Never bought a house. Bought and paid off two cars.
1. Get credit card
2. Use only a tiny bit of it every month
3. Make sure the tiny bit is always paid off on time
4. Repeat steps 1-3 for a decade or two
There, now you have a 800+ credit score. It's really easy to do if you're smart enough to get the very basic concept that if you can't afford something don't fucking buy it.
>>1268587
Spend everything on CC and pay it off every month. Pay all bills on time. Literally I do and mine is 786 with 10 years of credit history. Call and ask for credit line increases and reduced rates once a year.
>frog posters are stupid and I vow never to help them
>>1268756
This is creditkarma btw op - go use it
idk I have an 815 credit score and have never owned a credit card lol
>>1268888
Nice one trustfund
Mommy used your ssn for her cc again? Aww cute :3
MOIKKA
XD
>>1268919
idk, maybe? I don't know how credit works. but I do know that my parents both earn meager salaries, totaling less than mine, so the trustfund read was a miss senpai. does income affect credit? I know student loans are supposed to and I've almost paid mine off
>>1268753
>768 after 10 years
Damn how'd you screw up so badly?
>>1268587
I'm an immigrant.
I have no idea what my score is, I should apply for that 1 free score per year or get those cards with the free score per month but all I have done for the past year is use my card as often as possible and each night I pay it off. I also have a car lease I pay a few days early each month. I'd assume after a year I have average standing going by my lack of debt.
My wife has used her prior credit history (low income but always paid on time as she's USA born and raised) and my income and has been given $12,000 discover card and Chase card.
Me, on the other hand, with $30k cash in bank, am given a CC with an $800 limit, increased to $2k after a year.
I have NFI how their minds work.
>>1268587
Do you build more credit if you spend more but still pay it off?
Is it better to pay it all off at the end of the month or pay it off over the course of months? Seriously I've always wondered.
>>1268966
Keep the balance at 30% and pay it off every month.
>>1268854
WELL?
>>1268587
Credit is a meme. I have never lend money and I never will.
>>1269453
Good goy, who wants to rent an apartment, get a mortgage or other favorable loan terms anyway?
>>1269151
He means 10%. This score is broken down in plenty of places. Under 10% utilization is optimal. I think behind the scenes they might raise the score if you keep it at a low util while still moving money in one direction, but theres no evidence or anything to support this. It is best to pay it off as quickly as possible. You don't want to carry a balance, ideally. When your credit report takes a snapshot of your credit statuses, it will calculate your score based on your credit utilization at that time. So if I spend $1000 of my $2000 limit then I'm at 50%; my score will be shit that month, unless I pay it back and it is at a decent util when the score updates the month after (optimal util <10%). Basically it is possible to never carry a month-to-month balance (return balance to zero) but still have a shit score, if the score updates on the beginning of the month and you pay it all off at the end of the month for instance. The biggest factors are (in order) % payments on time, THEN comes the credit utilization, then your total credit available (>2.5k is average, >25k is excellent) and stuff like hard inquiries and recent accounts opened.
