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51722207 No.51722207 [Reply] [Original]

How do I build credit FAST?
I have no credit history. Never had a credit card.
I want to rent a place. I've learned that landlords always do a background AND CREDIT CHECK.
I want to make my application more appealing by establishing a credit history. Can I do this within 1 month?
I have no income btw, only grandma's inheritance.

>> No.51722226

>>51722207
>put $10,000 on a 0% APR credit card
>pay it off at $1000 a month for 10 months
credit scores love this
they want to see you pay off debt slowly
if you just pay off a credit card in full every month, they are not impressed

>> No.51722237

>>51722207
A month? No. If you've had bills or rent in your name at any point in the past, you likely have some kind of a credit score.

>> No.51722246

>>51722237
The zillow background/credit check that I paid $30 returned a credit score of
>NO CREDIT HISTORY

>>51722226
Sounds sketchy as hell. The best way to establish credit is to not pay debt?

>> No.51722282

>>51722246
you are paying debt. you're doing it slowly over time. the point is to show you can responsibly carry debt.

>> No.51722286

>>51722246
>Sounds sketchy as hell. The best way to establish credit is to not pay debt?
No it's to stay the enslaved Goy you already are

>> No.51722301

>>51722282
>>51722286
I have a different question:
Do landlords even give a fuck?

>> No.51722347

>>51722301
depends on the landlord, if it's an old couple they care a lot more for your personality, if it's some hipster landlord who pays the bank more than you pay him rent he probably "cares"

>> No.51722410

>>51722301
well no, your biggest problem is that you have no income. even if you have a lot of savings, landlords want to see income

>> No.51722607

>>51722410
It's a tremendous issue. Do you have any ideas how to make myself more palatable? I could pay a whole year's lease up front but landlords don't want to deal with someone who looks like a drug lord.

>> No.51723687

First.. Go to a credit union.. NOT A BANK.
Open an account. Most credit unions have credit builder loans. Ask about them. They basically give you a loan for say $1000. But the money is not deposited into your account. Rather it is put into a savings account by them that you cant touch. They pay you a measly interest rate (like 2%) and the payments you make go towards that "loan" at like 4%. Once you pay off the "loan" you get the "loan" credited to your account. A $1000 "loan" will cost you $1000 +$40 in interest, but the "loan" will gain $20 in interest until you pay it off. So it really only costs you $20, and you will get 12 months of good payment history on your credit score.

>> No.51723800

>>51723687
Thank you for this strategy. Actually helpful.

>> No.51723867

>>51722207
>Can I do this within 1 month?
No. You cannot build good credit within 1 month. It's going to take you a year. You have no credit history so your score will start out decent, probably good enough to rent.

Ignore anyone telling you to carry a balance, they are idiots. I have a 820 score and I've done nothing but pay off my credit cards in full at the end of every month. I have never paid a cent of interest. Just run all your purchases on credit. Whatever you'd normally spend in a month, it goes on the card instead of being purchased with cash/debit. Pay it off before the due date. It's that simple.