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/biz/ - Business & Finance

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53544649 No.53544649 [Reply] [Original]

24 year old, never had a credit card, non existant credit. How to get started in the best way?

never got onto it, debt seemed like a scam, will be buying land tho.

>> No.53544683

not your money not your land. good luck on the credit

>> No.53544701

>>53544649
Get a credit card and just use it to buy one thing and then pay it off every month, you fucking retard.

>> No.53544756

>>53544701
every time i apply for a card im denied because of no credit history.

how fast does one item per month build credit?
looking for good credit in a year.

>> No.53545170

>>53544756
Not sure how fast you can build credit but there are credit cards for people with bad credit that you can use to build your credit score.

Basically you just take one out then use it to buy everything you would normally buy anyway (not extra shit you're buying just because you have a credit card, this is how people get fucked) and then set it up to automatically pay the balance off every month from your bank account.

>> No.53545221

>>53544756
go to your local credit union open a debit account there and deposit something like 500$ and then ask them to open a credit line. Online resources for credit will have a larger barrier for entry than IRL.

>> No.53545228

Get a rewards credit card like the Citi Double Cash or Wells Fargo Active Cash which give you 2% cashback and allow you to save a little on your purchases. I use rewards credit cards for all my purchases and redeem over $1,500 or more each year. Make sure to pay off the statement balance each month so you don't pay interest

>> No.53545242

Do you have a bank? Go in and ask if they have something you can get started on. Otherwise look into a secured cash credit card

>> No.53545314

>>53544649
4 years ago my credit score was in the 300's, and now its 764.
1. Sign up for CreditKarma, check your scores daily as a reminder to be concious of your spending, Sign up for Auto save and make sure you do it every month.
2.Get as many credit cards as you can, buy 1 thing a month on each card, under 10% of you spend limit, then pay them all on time. That alone will get you to the 600's within a year.
3. If you have any debt, dispute it. About 20% of the time, it'll go away. If not, call the debtor and tell them you can pay half right now, most of them will take it. Then pay off the rest as soon as possible.
4. pretty much the only way to get to 800 is to either buy a house or keep as many credit cards as you can for 5+ years to build credit age.

you're still young, this is a great time to start.

>> No.53545330

Get a cheap verizon or at&t phone plan and pay it on time. it will get you enough credit to get your first credit card

>> No.53545353

>>53544649
take out a secured credit card or a $500-1k student credit card. use it to buy groceries, gas, online purchases, etc. and pay it off ___IN FUCKING FULL___ every single month. i did this and i had a high 700/low 800 credit score throughout my mid to late 20s.

>> No.53545382

>>53544756
>>53545314
When you sign up for creditkarma, they will give you a big list of credit cards to apply for, apply for all of them. Discover It card is very easy to get a $200 limit. Some are secured, meaning that you can pay them to get a credit line for whatever you're willing to pay, so pay them $200 and they will give you a $200 credit card.

Alternitively you can go to any credit union where you live and get a secured loan, which means you say you want $1000, so you pay them a specific amount each month until you've given them $1100 then they give you $1000 back with a big boost to your credit score.

>> No.53545390

>>53544756
First get a CREDIT UNION account if you don't have one. Do not put money in a bank. Get a debit card and ask for a line of credit.

The easiest way to start is a secured credit card
https://www.bankrate.com/finance/credit-cards/secured/

Always get 0 annual fee. Never pay for a credit card.

Then you can get CreditKarma or just search the web for 0 fee unsecured cards:
https://www.nerdwallet.com/best/credit-cards/fair-credit

Sign up for as many as will approve you. You can also get 0 fee credit cards at pretty much every store now GAP, Home Dept, etc. In 8 months ask all of them to raise your borrowing limit.
Sign up for a 1 dollar a month Patreon on all of them or alternate them and pay them off every month.

After 2 years all the dings for applying for cards should fall off and you can start asking for loans from your credit union. Get the biggest you can and pay it back. Apply for more credit, apply for more credit cards, etc etc

>> No.53545409

>>53545314
Also forgot, you should sign up for this as well, it should be free and gives little bumps when you pay bills like netflix on time.
https://www.experian.com/consumer-products/score-boost.html?pc=sem_exp_google&cc=sem_exp_google_ad_1670007804_67319116700_340488694978_kwd-298283627195_b___k_Cj0KCQiA2-2eBhClARIsAGLQ2RloP46JTM6cDJy5MfSafseVcfzcPUhH1QRRf62cRegHAr25Ys1x1BUaAq2qEALw_wcB_k_&ref=generic&awsearchcpc=1&gclid=Cj0KCQiA2-2eBhClARIsAGLQ2RloP46JTM6cDJy5MfSafseVcfzcPUhH1QRRf62cRegHAr25Ys1x1BUaAq2qEALw_wcB

>> No.53545449

>>53545314
Dispute your debts but never pay them.

Paying your debts is a boomer move and it doesn't work in 202X. Once the debt goes to a debt collector it's over. Take the hit and ignore them. Do not talk to them. Do not pay them a dime. PAYING THEM ANYTHING WILL EXTEND THE DEBT AND WILL NOT IMPROVE YOUR CREDIT. In 4 years they can't do anything to get the money back and in 7 years it will fall off your credit.

>> No.53545470

>>53545390
I dispute my hard inquiries every month and they go away pretty quickly

>> No.53545486

>>53544649
get discover card, build credit, then get amex, youre behind but better than bad credit

>> No.53545502

>>53545449
I did this route with a huge medical bill. Just waited the 7 years and let it go away. But with the small ones, mostly under $300, i would call the collectors and pay half or less to make them go away. Paying does suck, but I couldnt get approved for jack until they were gone.

>> No.53545561

>>53544649
Also, never ever ever ever get a pay day loan.

>> No.53545582

>>53544649
stay out of the jew system, or they will enslave you
joining the credit ratrace is like taking the blue pill so you can eat a steak again

>> No.53545875

>>53545582
I never wanted a credit card, but i have plans for buying land and its better to usse someone elses money rather than depleate your saving.

>> No.53546126

>>53545582
good luck with never owning anything and paying rent the rest of your life.

>> No.53546238

>>53546126
enjoy your property tax and insurance payments on the things you 'own'

>> No.53547687

>>53546238
cheaper than renting.