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Do you have good credit?

If you do can you tell me how you got it?

I have not had anything on my credit for the past ten years so now I don't even have a credit score. I am a "ghost"

I have been trying to get a car and am having a very hard time getting financed. The only way I will be able to get financed is if I go through one of those "bad credit" places and I don't want to do that because of the interest rates and paying way more than I should.

So do you think I should just pay cash and buy from an individual? Or is there a way to inprove my credit and not have to settle for those high interest rates?

Anyway you ladies always have good advice so anything you can tell me would be helpful.

 
violaswamp

Asked by violaswamp at 10:57 AM on May. 13, 2009 in Just for Fun

Level 3 (13 Credits)
This question is closed.
Answers (2)
  • I have a few store credit cards, and one major credit card. I use them and pay the off in full each month. After a year I had a great credit score (almost as good as my hubbys, he had a student loan and one credit card and is a year older then me) My credit hasn't been check for a year.. So if I had a guess- I probably have well over a 720.
    They say you shouldn't get store credit cards and should only have one major though. The more money have available the harder it is to get loans. But its only been good for me. :) But since your in college I would start doing student loans and just pay them off (since I assume thats what your doing aways is paying it off) If your doing student loans already then make sure to make payments on time!! And do one major credit card and pay it off every month. But only use it for necessity's and things youd pay for with cash anyways. Like gas and groceries.
    amy31308

    Answer by amy31308 at 11:06 AM on May. 13, 2009

  • Have you applied for a credit card? Yes, you might end up with one with a really high rate but if you charge something & then pay it off on the first bill, you won't be charged interest. If you have no credit, you will probably only qualify for a card with a $300 line of credit. Just charge something small on the card & pay it off immediately & that will start showing payment history. If you have the cash for a car, consider this: finance the vehicle for whatever you can find, make payments for 6 months or so & then pay off the balance. Yes, you will eat a bit in interest those first few months but again, you are building payment history. Another option would be a co-signer. Someone with good credit who will be on the car loan with you. They may need to be first on the loan, but it will show on both of your credit histories. There is no quick solution--it just takes time.
    funnyface1204

    Answer by funnyface1204 at 11:08 AM on May. 13, 2009