Can someone tell me how to get good credit?

[Christopher]

Planning now for the future and all that jazz...

So what I'm understanding? 

- Pay credit cards

- Open a few accounts (2-4 cards, and use them accordingly, never close them).

That's about it me thinks, and ALWAYS pay your credit card in full on time.  Is there more to it?

[brawndolicious]

1-2 cards

pay for expenses that you normally get but don't use it for as much as you can because there's a good chance you can overdraw and pay on time.

[Vizzys]

dont get a credit card, get a debit card.

[TVC15]

That's the gist of starting out well.  Also, having your own place helps, even if it's just an apartment.  I think it's also important to be at the same job for a while, or at least it looks good.  I'm not certain that opening A FEW accounts is necessary, but I could be wrong.

It just takes time, and more important than building good credit, it is important that you don't do anything to give yourself BAD credit, like fucking up a loan, going nuts with the credit cards to the point of delinquency, or declare bankruptcy.  Also, don't fuck around with the student loans people for too long.  Ruining your credit is one of the few things they don't have much trouble doing.

[Christopher]

That's the gist of starting out well.  Also, having your own place helps, even if it's just an apartment.  I think it's also important to be at the same job for a while, or at least it looks good.  I'm not certain that opening A FEW accounts is necessary, but I could be wrong.

It just takes time, and more important than building good credit, it is important that you don't do anything to give yourself BAD credit, like fucking up a loan, going nuts with the credit cards to the point of delinquency, or declare bankruptcy.  Also, don't fuck around with the student loans people for too long.  Ruining your credit is one of the few things they don't have much trouble doing.

Thanks TVC, as always with good advice.

So TVC I have like 4 cards now:

My Bank Credit Card
Express Card (Which I haven't used in like 2 years)
My Macy's Card
GAP card (Which I haven't used either)

Should I close those two cards?  Are 4 cards too much you think?

My goal is to own my own house one day so I figure at least get the credit junk out of the way.

[TVC15]

To be honest, I don't know exactly how many cards it is best to keep going.  I have heard that having idle accounts isn't usually considered a good thing, and at best, those idle accounts aren't doing anything to help you build credit.  I think the idea of having like 4 cards, and using them all and keeping them paid would be somewhat inconvenient for someone to manage, no matter how good it is for the credit.

I've largely avoided credit cards (except for the "emergencies" card) because I was financially up and down too much to trust myself to be able to make payments on a regular basis, so my experience in that field is a little blank.

[Himu]

I was thinking just one account would good.

Didn't know there was other stuff that went into this like having your own place or how long you've stayed at a job. Good advice, TVC.

[Ecrofirt]

The way credit works is such a scam. I can't stand the idea of it.

[Diablos]

You should probably have like 2-3 cards. Use one as your primary card, and another as a backup/emergency. Meaning, you rarely if ever use it. The fact that you are young and able to maintain two accounts will start you off with some pretty good credit.

After that, it's really as simple as making your payments on time. Use both for some stuff, knowing you have the money to quickly pay them off so you can show that you're responsible. If you are still at home, they probably won't care as much about employment history because they'll know it's your first card and you are trying to build some credit -- so don't expect more than a $500-600 limit initially.

If you're worried about accidently putting too much on your card and really jacking up the monthly payment, use American Express as your primary credit card. They require the cardholder to pay off the balance every month, so you will automatically learn that it's a bad idea to overcharge, and that's a good habit to get into (one that I did not initially).

The way credit, employment, housing, marriage, etc. etc. works is such a scam. I can't stand the idea of it.

Crazy world we live in.

[Bacon]

I have fantastic credit scores.

[FlameOfCallandor]

Why the hell do you need more than one credit card?

[CrystalGemini]

Thanks TVC, as always with good advice.

So TVC I have like 4 cards now:

My Bank Credit Card
Express Card (Which I haven't used in like 2 years)
My Macy's Card
GAP card (Which I haven't used either)

WHY THE HELL NOT?! 

BY USING YOUR GAP CARD AT ANY GAP BRAND STORE (Gap, Old Navy, or Banana Republic) YOU GET:

10% OFF THE FIRST TUESDAY OF EVERY MONTH.
$10 REWARD VOUCHER FOR EVERY $200 YOU SPEND COLLECTIVELY AT ANY GAP BRAND STORE.
$15 BIRTHDAY COUPON.
FREE SHIPPING ON ANY PURCHASE OVER $50 AT www.gap.com.

[Christopher]

...Willco have fun paying off Crystals GAP debts in the future ;p

[CrystalGemini]

...Willco have fun paying off Crystals GAP debts in the future ;p

Only losers have Gap cards.   

[Christopher]

Totally cool losers :cool

well I have a Hollister Club Cali Card, a GNC Gold Points card but those don't count as "credit cards".

[Strife Doombringer]

First thing you do is get two department cards such as JC Penny or Macys or The Buckle then you need three other cards Visa or mastercard doesnt really matter I had 14 cards by the time I was 21. I racked up a lot of money on all of them some late fees here and their but as long as you dont go over 60 days late wont hurt you score. But you need to have at least five and keep the balances on your cards under 50% of what your limit is then you have to keep these accounts open for pretty much the rest of your life pay for gas evryonce and awhile then pay it off. Evry six months you ask for credit line increase. My 14 cards got dwindled down to five and thats the primo stats you want im 27 and my highest credit limit on my VISA is 28,000$ and my FICO score is over 850 anything over 700 is what you want anything more than that is frosting on the cake. You can check your credit at www.annualcreditreport.com for free and get your score for 5 bucks that way you make sure you dont have any discrepancies on your report like mine says im still married on one report but im not. So good luck. oh and one more thing try to get two credit cards per every quarter other wise your fico score will go down. So get like department card and a Visa from somewhere preferably from your bank. Then wait 3 months and get two more and so on. But five is the lucky number 2 department cards and 3 major cards.  Have fun the longer your accounts are open the better your score it takes five years to get a good score on an open account other wise its considered a negative because it ha sent been open long enough... ps you dont have to pay them in full just on time its better to have a balance on them because the people that own your account see you are using it and they will increase your credit limit faster if you keep a balance on it, its not a negative on your credit score unless your 50% of your limit got it..

[Christopher]

Hey Strife good advice thanks dude

[xnikki118x]

When my best friend's parents got married, neither had credit and it gave them problems trying to buy cars and stuff. They got one credit card and used it to buy their groceries every week, which they then paid off each month. Worked for them.

[FlameOfCallandor]

14 credit cards!! Good god. 

[Garnet]

everytime you apply for a credit card the company does a credit check which goes against you even if you are accepted or declined. Thats not a good thing...

Best thing to do is get a credit card, buy shit then pay it off as soon as you can, then after a while cancel and apply for a new one etc.

Paying mobile phone bills through direct debit also helps for your credit. Apparently...

[Garnet]

btw, your credit "score" means absolutely jack shit.
oh and strife: your way is a stupid way.

Try this chris
http://www.peoples-law.org/consumer/credit/credit.htm#What%20Affects%20My%20Credit%20Rating? 

fuck...double post

[Strife Doombringer]

My way is awesome fuck face my credit score is 845 and my line of credit is 50K what about yours believe me I know what im talking about

[Garnet]

your credit score is 845. Do you even know what that means?

I work for a bank dip shit.

[MrAngryFace]

I think your credit score improves if you use your credit cards on hookers.

[Strife Doombringer]

lol
who gives a shit if you work at a bank does that make you the credit card master. I know plenty of people that work at banks and they dont know shit about credit. after 10 years of credit history I think I know what the fuck im talking about so go fuck yourself.
And yeah I know what a credit score of 845 means it means I will get the best intrest rates and I can probrably get what ever fucking loan I want.