Originally posted by chris48083:
thats realy interesting, i just emailed my finance teacher about it (im curious about it too). |
Let me know what your teacher thinks about this site, I am curious. I don't want to harm my 700 point credit rating.
Originally posted by chris48083:
im sure it affects your credit just like any other loan. if you want a good way to build what you can do is get a credit card and put one small purchase on it (like $200 bucks or something) and DONT pay it off right away (cause its not anything special to pay something off when you have the money), but pay it off over a couple of payments (the credit card companies want to see that youre able to keep on top of a payment), but keep on with the minimum payment and your credit will build. |
You forgot to add, keep your oldest credit card, keep your cheapest credit card, and don't ever pay off a credit card with a credit card unless it is at 0% interest without any other activity applied.
Also, never pay down just the minimum payment, that is just stupid. Always pay more than just the minimum.
Also, invest in stocks and bonds, and even CD's, and get an interest bearing savings account. All of these will help offset interest rates on all of your credit cards.
Elementary stuff Chris.
Thanks.
Message edited by author 2008-04-13 14:36:24.
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