whats the best way to build up good credit fast

[Turkey Sammich]

I got a $500 CC and just buy stuff off ebay like tools and car parts....and sometimes tools for friends.

Hmmmm... I'm actually looking for a new friend.

 

[Roland69]

lol


I have a few friends who work in a garage and they ask where I got some of my tools and when I say ebay......and the price I paid they ask to get them something. They pay first then I order.

ie- I bought a IR 2135 1/2" impact from ebay brand new for $200 USD shipped ($240 CDN) and my one friend bought one from one of the tool trucks and paied $430 CDN lol. I just got one for another friend in the mail today and I bought it from the same seller for the same price.

 

[Turkey Sammich]

So, I guess that's a no

 

[MrStang123]

My economics prof. was telling us that paying off loans will build your credit a lot more then credit cards. Maybe take out a small personal loan or something if thats the case? The dude knows about money and all that so I guess I could take his word for it.

But stay away from credit cards. Those things suck ass.

 

[90]

I did something similar to that of 90 mustang. I got a credit card through a credit union with a limit of 500 dollars, because i figured that if worse came to worse i could still pay it off at the end of the month. To date i have only paid roughly 20 dollars in interest in the 3 years i've had the card. Also i have a car loan and a cell phone that i take care of regularly. I also make double payments on the car. I am also 22, i wonder what my credit score is...hrmm

i found it to be the best thing to do because i started young, when i am not even thinking about buying a house. now when i am ready, i wont have to worry about it. i have it all taken care of. i do not plan on living with mom and dad all my life, but until i find a great job that pays well what else can i do ? you know..

 

[TheUser]

But stay away from credit cards. Those things suck ass.

Using a credit card to live beyond your means is what screws you. Using credit cards wisely and not spending more than you can realistically pay off in a short time frame is convenient and it helps your credit...if you pay it off.

However, a lot of people can't resist impulse buying, so they pull out the credit card and charge their life away without thinking of the consequences. Of course, if you know yourself and you do not believe you can responsibly use a credit card, do yourself a favor and don't use one. You can seriously screw up your life with credit cards if you get in over your head.

Just wanted to point out that credit cards aren't bad - it's the owner living beyond their means that causes the problem.