What Made you Smile/What Ticked you off Today?

[mjmjr25]

You can build credit by paying the entire sum w/o incurring any charges - but Luke is correct, it takes a bit longer to do it this way, particularly if your only paying on one card or loan.

You will accrue a higher rating by making the payments required, but not paying in full. In truth, you will have to pay real dollars in finance charges to build real credit - if you can't afford to build it slowly.

With that said - so long as you don't miss payments or default on a loan entirely, you should have plenty of credit accruing by having a low value cc or bank / credit union loan and paying it off in full each month. The route to take will be determined by: What your credit is now? What you need it to be to get said cc or loan? And when you need your score to improve?

The problem is getting yourself in trouble early in life - then yes, you are going to have to pay those real dollars to build back up to where you want to be.

[Xeogred]

I see, Luke sounds like my dad. lol

So, if I had say two cards though and did bigger payments, would that speed up the credit building process a little? If I went that "longer route" if you want to call it that, paying things off ASAP and whatnot.

Thinking I might just start with Best Buy or something... maybe get like a Vita or 3DS, which I could easily pay off right away, but perhaps it'd be better to make payments on it for a few months? Maybe something in this price range is too small though? Bad plan or not?

[mjmjr25]

Any credit payment made helps your credit score. Whether you pay the minimum or the entire balance.

Let's say you get the Best Buy card.

If your intent is to just build "some" credit - then pay it off in full each time you get a bill. You'll build "some" credit and not pay any fees.

If your intent is to get out of bad credit, or build credit "faster" - then pay the minimum each month. You will pay a percent of the remaining balance, which will show up as a finance charge on your next bill. Just keep up with the minimum and you'll keep building up credit - the longer you have it, the better of course. Just be sure to not miss any payments. Maybe every now and then pay off the entire balance to keep things manageable and in perspective. Then start up again by paying the minimum due each time.

Not knowing your finances - you can do this with 1 card, or maybe even 2, like a Target card. With a Target card, you'll get 5% off each purchase (and free online shipping). You can justify that 5% saved to cover your purposely accrued finance charges. It won't be a complete wash, but it will be close.

[Forlorn Drifter]

Smile: I finally got a pretty girl interested in me. She's not from where around I live, but we have a friend or two in common, so that's better than I expected.

Frown: I'm pretty sure she's insane. She's all over the place in the messaging we've been doing, and she sent me something that sounded really bad... not insulting, hard to explain...

[elmagicochrisg]

hard to explain...

Take your time...

[Forlorn Drifter]

hard to explain...

Take your time...

She already deleted her facebook and everything. That was weird. Really and truthfully, I'm dissapointed. That is literally the first girl who came on to me. She was good looking too. Oh well, back on the prowl.

[sabrage]

She already deleted her facebook and everything.

That seems... Extreme...

[mjmjr25]

smile: sabrage changed his avatar.

frown: still not as good as teh first.

[s1mplehumar]

^ Wait. Is that Saul from Breaking Bad?

[sabrage]

smile: sabrage changed his avatar.

frown: still not as good as teh first.

I toy with the idea of reverting every day.

^ Wait. Is that Saul from Breaking Bad?