Starting with a good credit rating?

Okay, I’m 19 and know next to nothing about credit ratings. I have a debit card linked to my bank account, but I’ve never had a real credit card of any kind. Can anyone tell me the basics, and how I would go about getting a good credit rating? I want to become a homeowner as soon as possible and I know I need a good credit rating.

Thanks in advance!(ten points to the best answer!)

Bob, you’re in a perfect position to begin a lifetime of good credit. It will take a little time, but building a solid credit foundation will be one of the best things you will ever do.

Firstly, your debit card linked to your bank account in no way affects your credit report, so let’s cut that out of the mix.

Next, I could say everything that these articles say, but they’ve done all the work for me. Check out the tips on these pages for people like you starting out with no credit - they are tried and true:

http://financialplan.about.com/cs/creditdebt/a/NoCredit.htm
http://www.360financialliteracy.org/Life+Stages/Military+and+Reserves/FAQs/Credit+and+Debt/How+can+I+get+credit+if+I+have+no+credit+history.htm

Also, here are some websites to read when you have some time. They will teach you the ins and outs of credit, including your credit report and credit score. Understanding all the information is important in making wise decisions in the future!

http://www.credit.com/credit_information/credit101/
http://www.crediteducation.org/
http://www.mymoney.gov/mymoneyinfo.shtml#credit

The more you know, the better you’ll do.

Good luck,
-AskYourQ

What is a good credit card for someone with excellent credit?

I have excellent credit, and I’m looking for a good credit card that offers rewards/cash back bonus and paying online. I’ve heard there are some good credit cards out there, any suggestions?

Any AmEx!

Just a small little survey?

Conservative or Liberal?
Catholic or Prodistant?
Jew or Gentile?
Friday nigh sunset to Saturday night sunset Sabbath or Sunday?
Jonas Brothers or Beach boys?
Palin for president 2012 or not?
History channel or Discovery channel?
Nick or Disney?
Right winged or left winged?
If a white person didn’t vote for Obama does that make that white person prejudice?
Cash or check?
credit card or Debit card?
Acoustic guitar or electric?
Orchestra or band?

Conservative or Liberal? Moderate
Catholic or Prodistant? Neither, I’m no-religion
Jew or Gentile? Gentile
Friday nigh sunset to Saturday night sunset Sabbath or Sunday? Neither
Jonas Brothers or Beach boys? Jonas Brothers
Palin for president 2012 or not? NOT
History channel or Discovery channel? History
Nick or Disney? Disney
Right winged or left winged? I’m not a bird, so neither
If a white person didn’t vote for Obama does that make that white person prejudice? No
Cash or check? Cash
Credit card or Debit card? Debit
Acoustic guitar or electric? Acoustic
Orchestra or band? Orchestra

the small print on Chase freedom CREDIT CARD?

So i want to apply for the CFCC. My main reason it offers a 12 month 0% apr. I currently have a chase master card and i had a full 12 months of 0 apr and it was smooth and great. So before apply for this new CFCC i read the fine print and next to the intro apr it stated…(THE INTRO 0 PERCENT APR WILL BE 12 BILLING CYCLES OR 6 MONTHS BILLING CYCLES DEPENDING ON CREDIT HISTORY) ahaaa….well my question is what are the determine factors of this card being either 12 or 6 months of 0 percent apr?

That’s based on your credit as it saids. You might need to read on or call and ask what are their credit qualifications for the 12 months. When you find out then I suggest looking at your credit first before applying and make sure you meet their qualifications.

What is your opinion of these two stocks in the next 90 days: Intel and Microsoft?

Do you feel that the Obama people are mainly, at the lower levels going to be from the "wired" generation? Does this mean a lot of new demand for laptops bought by the Agencies? Will the $200 Billion in credit card bailout mean that small businesses and individuals will be able to invest in laptops and Vista? Is the MSFT $40 Billion share buyback process going to help the share value in the next 90 days? Does Intel have any major US competition for its new NAND memory chips or for its 64 bit CPU’s. Is Vista and Windows Professional XP going well enough to take a major role in reforming healthcare? How do MSFT and INTC stand in comparison to the rest of the Nasdaq stocks in your view. How do they stand in comparison to all stocks? How do all stocks stand in comparison to all other investments (bonds, land, foreign exchange, gold etc). Does a special dividend seem possible in December for MSFT or INTC?

Both are technology companies with strong balance sheets, fairly priced and pay dividends. I don’t think Obama people from the "wired" generation has anything to do with the long term investment potential of either company. No, the $200 Billion in credit card bailout does not mean that small businesses and individuals will be able to invest in laptops and Vista. No, Microsoft’s share buyback will not help share value in 90 days. Advanced Micro devices competes. No a windows product is not likely for healthcare reform. Microsoft and Intel are the largest of nasdaq stocks, they are still pretty large in comparison to all stocks. Presently the secondary market for investment grade corporate bond offers the best risk/reward. No, special dividends.

What does closing a store credit card do to your credit?

Two questions:
1) If I have a store card that I don’t really use anymore, what effect would closing that card have on my credit?

2) Stores always ask me to open a store card to save 15% and say I can close it later if I don’t want it. I always say no. Wouldn’t it negatively affect your credit score to be doing that all the time?

I don’t close my unused accounts out because I read that this lowers your "available credit", which in turns raises your debt-to-credit ratio. I think you can lose points on your FICO scores, but how severe the impact is I really don’t know.

My husband did not disclose everything on his discovery and I know that. How do I go about getting him to?

He had several credit cards not disclosed and personal property

Waterboard him.

pre paid credit cards? can i use one of those to purchase flights?

im going to go to Oregon next month and i don’t have a credit card, i was thinking about getting one of those pre paid credit cards.. is it possible to purchase airline tickets with one of those online at like expedia.com or cheap flights.com?

As long as it has the visa logo and enough money on it to cover the flight - yes you can use it.

CHASE FREEDOM CREDIT ?

i have had my chase freedom credcredit card for 11 and half month now with no late payment.do anybody know when they are gonna give me a credit limit increase?
thanks.

You must ask for credit limit increase after 12 months of continous good credit.

How much should i charge on my secured credit card to get the best credit rating?

How much should i charge on my secured credit card to get the best credit rating?

I can charge up to $500 on my secured credit card and want to know how much should I charge on my secured credit card to get the best credit rating. I need to build credit because I got none.
I’ll be paying it off every month.

I’m wondering how much I should charge on my secured credit card every month out of my $500 maximum.

Not much. I would keep less then $100 balance on it and only pay the minimum payment every month.

The credit companies want to see that you can handle paying a bill month after month with no lateness.

NEVER EVER EVER have more then $250 on there if your max is $500. But I would keep it at LESS than $100.

I told my neighbor these directions to improve her score and it got dramatically better in six months.

I’ve done this religiously for 10 years and have a 720, and no it will not help you to pay it all off every month as the other person suggested. That may help maintain the score, but not increase it.

Good luck!