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HOw do you build credit

ok so im a SAHM and my hubby credit isnt exactly great, me my credit is in the 500's so bad i know but how do i build it up...How do people with shitty credit get home loans and go on these family vacations is just doesnt make any sense.

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Anonymous

Asked by Anonymous at 6:42 PM on Jun. 3, 2009 in Money & Work

Answers (10)
  • You have to pay off the debts that show up on your credit report, call the company and MAKE SURE your name is cleared..then build your credit back up, by paying your bills on time or paying early even, paying bills late goes against your credit too. Some people don't realize that.
    Bmanda352

    Answer by Bmanda352 at 6:45 PM on Jun. 3, 2009

  • You build up your credit by just paying your bills on time. You could get a credit card and just put 10 bucks on it a month and pay it off. But credit cards can look bad too, because it tells lenders you are taking on more debt.

    My husband has crappy credit( a 630 to be exact) and HE just got a home loan for 300K. We don't have any debt so our debt to income ratio is great and he does have a decent salary. Oh and we also got this loan at the current mortgage interest rates. So bad credit doesn't necessarily hurt you if you have your other ducks in a row, if you know what I mean.

    Go to daveramsey.com He has some great financial tips. Good luck. It sucks to be in the position your in. I've been there, but it does get better if you play your cards right. Good luck.
    Anonymous

    Answer by Anonymous at 6:49 PM on Jun. 3, 2009

  • don't waste your time "just paying your bills on time" get Debt Cures by Kevin Trudeau.
    It not only shows you how to erase debt, but the tricks the banks use, the government uses, and it also shows you how to get an unlimited amount of credit (as long as you use it right)
    Trust me, it is a life saver!
    Anonymous

    Answer by Anonymous at 7:50 PM on Jun. 3, 2009

  • Oh for crying outloud, don't hire someone....that's a total waste of money. The only way to do it is to pay your debts, and pay your bills on time.
    Anonymous

    Answer by Anonymous at 7:55 PM on Jun. 3, 2009

  • Pay your bills on time and don't over extend yourself. We have managed to keep our 830 credit score without the help of Dave Ramsey. Funny he takes credit cards.lol
    Anonymous

    Answer by Anonymous at 8:04 PM on Jun. 3, 2009

  • Dave Ramsey does NOT take credit cards! He states that right on his site. We have been following Dave's program and we haven't paid a penny for it. I checked out his book The Total Money Makeover at the library. He has a show on Fox Business every night. His website is full of FREE info and there is an awesome group on here called Dave Ramsey Fans, where we help each other out.
    Anonymous

    Answer by Anonymous at 8:38 PM on Jun. 3, 2009

  • Love Dave Ramsey.. he is awesome but the key is to pay all of your past debts off and to make sure you pay all of your bills on time from this point forward. The bad part is that MOST everyday creditors do not report to the bureaus unless you are late. It makes building credit very difficult. Having no credit is often times as big of an issue as having bad credit.
    mamakirs

    Answer by mamakirs at 9:09 PM on Jun. 3, 2009

  • It's hard to get your credit score up once it's been messed up. Try to pay off any credit card bills you have as soon as possible. Work with the Credit Company and let them know that you are trying to improve your credit. They may consolidate your bills and give you just one monthly bill to pay each month. Make sure everything you owe is paid on time. Some places will turn your name over to the Credit Bureau even for being one day late on a payment. It'll take time and dedication on your part, but I know you can do it. God Bless
    lighthousemom3

    Answer by lighthousemom3 at 10:39 PM on Jun. 3, 2009

  • Credit Bureau even for being one day late on a payment.

    However they cannot report it as a 30 day late
    Anonymous

    Answer by Anonymous at 11:06 PM on Jun. 3, 2009

  • pay your bills on time. call if you will be late. try to pay out bills early. you'll be surprised how much difference it makes.
    princezzmommie

    Answer by princezzmommie at 8:56 PM on Jun. 10, 2009

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