What's the best way to build credit for someone who has none?

**need4speed** · November 12th, 2003 12:53 PM

thanks for the tips peeps...

kuroy:
walang wells fargo here samen eh... never seen one since i got here. I applied din at a lot of cc's... puro rejection letter... *sigh*

i just ended up getting one of those secured credit card (parang prepaid)... no choice eh... i should have gotten a secured card from the moment i got here para by now.. i'd probably have an unsecured one by this time...

**need4speed** · November 12th, 2003 01:01 PM

hay ang lamig dito sa east coast..... i'm freezing my *$$ off... lol

**jesi** · November 18th, 2003 09:05 PM

You have to have a job para bigyan ka ng sarili mong credit card. If you have an extension, hindi pa rin sa iyo iyon. Since you already have a bank account, [and if you have a job] start out with stores credit cards [like Macy's, Sears, etc]. Kung na-approve ka sa mga iyon, keep using and paying them off on time para maka-build ka ng credit. I assure you, within three months eh may pre-approved ka ng credit card application sa mail.

Or open an account sa mga credit unions. Madali mag-apply ng cc sa mga iyon as long as may regular job ka.

Pero payo lang, kapag nagkaroon ka na, ingat lang sa paggamit baka mapasubo ka. Ako nga, tagal ko na rito, nasabing Platinum visa ko pero 2k lang limit. [My choice though]. I only use it mostly when booking hotels and buying stuff sa internet. At least kung madadali man, eh 2k lang. I mostly use my debit card kasi.

**need4speed** · November 19th, 2003 12:06 PM

thanks for the info jesi...

and yeah i do have a job...

i didn't know you could apply directly at credit unions... thanks for the tip...

in any case... a week ago... i got one of those secured cards... so that's how i'd be starting

**Karding** · November 21st, 2003 06:57 AM

Originally posted by bmdj
OO nga mahirap nga sabi ng cousin ko. Mas madali kung nag-aaral ka may cc kana, ang tawag yata dyan Student CC/Student loan etc.. (",)

and this is how students get buried with CC debt which they cannot pay until they die if they are paying a minimum. A study also show that a $2,500 CC debt with a 21% (which most Student CC are) is payable in 25years if you pay in minimum.

need4speed, what you did is a good way of building your credit, a secured CC other than having a co-signee (guarantor in the Phils) or a Store Credit Card first.

and couldn't agree more with Macky, the more you apply (and denied) the worse it affects your credit history. Considering you have a Credit Monitoring subscription, I thought you knew that need4speed?! A Credit Inquiry (Applying for a CC, Loan, Store Credit etc.) of once every 6 months is the most that you can to have a less affect on your credit history. And you dont wanna pay attention to those so called PRE-APPROVE in the mail. Always read the fine print.

**need4speed** · November 21st, 2003 08:38 AM

Originally posted by Karding
and couldn't agree more with Macky, the more you apply (and denied) the worse it affects your credit history. Considering you have a Credit Monitoring subscription, I thought you knew that need4speed?! A Credit Inquiry (Applying for a CC, Loan, Store Credit etc.) of once every 6 months is the most that you can to have a less affect on your credit history. And you dont wanna pay attention to those so called PRE-APPROVE in the mail. Always read the fine print.

only found those things out not that long ago dude...
thanks for the info ...

**luckytruck** · August 2nd, 2005 03:44 PM

buhayin ko lang ito.

dalhin ko na lang lahat ng credit card ko galing sa pinas. aabot din ng cumulative credit limit ng mga P500,000, pwede na cguro yon.

does your philippine credit card history have any bearing on a credit rating in the USA? buti na lang mabait ang pinsan ko at tutulungan nya raw ako sa paghanap at pag-sponsor/co-make ng mga major purchases ko ie vehicle and such.

andy

**wrxsti** · August 2nd, 2005 04:41 PM

credit cad from the Phil, has no bearing.

apply for a secured Visa card, you deposit 100 - 10,000 dollars in a savings account that is non withdrawable until 1 yr after, when you have established your credit.

having a co signee when purchasing a vehicle is a good idea, at least if the co signor has a good credit history you can get a low APR.

**tinky** · August 2nd, 2005 04:45 PM

Originally Posted by luckytruck

buhayin ko lang ito.

dalhin ko na lang lahat ng credit card ko galing sa pinas. aabot din ng cumulative credit limit ng mga P500,000, pwede na cguro yon.

does your philippine credit card history have any bearing on a credit rating in the USA? buti na lang mabait ang pinsan ko at tutulungan nya raw ako sa paghanap at pag-sponsor/co-make ng mga major purchases ko ie vehicle and such.

andy

are you staying here for good?
if someone is gonna co-sign you when purcahsing a car
make sure this person has a good credit history because
it's going to reflect on you.