Hey you kids - How to build up a credit history - Page 2

Amorok · 02-08-2010, 08:07 PM

I joined with no credit and when I needed to build some I started taking out signature loans. The first one was for five hundred dollars over six months. I paid it off with the hundreds they gave me and I think I paid $30 in interest. After that, I kept getting bigger signature loans at lower interest. After a couple of years I could sign for enough money to buy a new car, and my interest rates were around 4% with that credit union. Now I have a 740 credit score and very little debt. I paid some money out of pocket but it was a fast way to build the credit I needed.

02-08-2010, 08:07 PM	#11
Amorok Issukangitok Join Date: Nov 2008 Location: Biloxi, MS Moto: '06 Suzuki Boulevard C50T Posts: 2,225	I joined with no credit and when I needed to build some I started taking out signature loans. The first one was for five hundred dollars over six months. I paid it off with the hundreds they gave me and I think I paid $30 in interest. After that, I kept getting bigger signature loans at lower interest. After a couple of years I could sign for enough money to buy a new car, and my interest rates were around 4% with that credit union. Now I have a 740 credit score and very little debt. I paid some money out of pocket but it was a fast way to build the credit I needed. __________________ What goes around comes around. Sometimes you get what's coming around, and sometimes you are what's coming around. You see what I mean?