Comments on: What are some ways or resources to build your credit score without getting taken for a ride? http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride Tools and information about Credit, Loans, and Debt Sat, 21 Jan 2012 13:12:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: bettercreditcontrol http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride/comment-page-1#comment-255 bettercreditcontrol Fri, 28 Nov 2008 03:36:59 +0000 http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride#comment-255 Mid 500 is no credit, you can get it to the mid 700's, now you are talking. Life would be much easier with the best credit. Try a secured loan, and a secured credit card. Go to your bank open a CD for $ 500.00 and borrow the same amount against it, that means, in and out of the same bank with the same money, and an established credit, now take the same money and go to a different bank and get a secured credit card for the same amount, now this time you will not be able to walk out with your money at hand, but you will get your credit card, from which you can make both monthly payments, and start building your credit nicely. You will also build an extra $ 500.oo in savings, at the end you will have $ 1,000.00 cash available to you and two different lines of credit and bank accounts, you will be in a much better shape, as far as the house, your best bet is to wait until your credit is a lot better, the market will also be a lot better for you.<br><b>References : </b><br>www.eaglecreditrestoration.com Mid 500 is no credit, you can get it to the mid 700's, now you are talking. Life would be much easier with the best credit. Try a secured loan, and a secured credit card. Go to your bank open a CD for $ 500.00 and borrow the same amount against it, that means, in and out of the same bank with the same money, and an established credit, now take the same money and go to a different bank and get a secured credit card for the same amount, now this time you will not be able to walk out with your money at hand, but you will get your credit card, from which you can make both monthly payments, and start building your credit nicely. You will also build an extra $ 500.oo in savings, at the end you will have $ 1,000.00 cash available to you and two different lines of credit and bank accounts, you will be in a much better shape, as far as the house, your best bet is to wait until your credit is a lot better, the market will also be a lot better for you.
References :
http://www.eaglecreditrestoration.com

]]> By: Sharon F http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride/comment-page-1#comment-254 Sharon F Fri, 28 Nov 2008 02:55:59 +0000 http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride#comment-254 ooh sweetie both of you got it all wrong you want a LOWER APR....not higher and though you feel and think a credit score of mid 500s isn't horrible.....IT IS these lenders wont bother financing you with a score that low....you are considered subprime (something predators look for); as bad as you all are wanting to buy a home you shouldn't because your score is too weak it needs to be in low 700s at MINIMUM to even be considered for a decent loan clean up your credit and apply for a secured credit card (dont go crazy applying for all kinds of cards) and give it about a year of on time payments; paying more than mininum and the score will improve<br><b>References : </b><br> ooh sweetie both of you got it all wrong

you want a LOWER APR….not higher

and though you feel and think a credit score of mid 500s isn't horrible…..IT IS

these lenders wont bother financing you with a score that low….you are considered subprime (something predators look for); as bad as you all are wanting to buy a home you shouldn't because your score is too weak

it needs to be in low 700s at MINIMUM to even be considered for a decent loan

clean up your credit and apply for a secured credit card (dont go crazy applying for all kinds of cards) and give it about a year of on time payments; paying more than mininum and the score will improve
References :

]]> By: The Shadow http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride/comment-page-1#comment-253 The Shadow Fri, 28 Nov 2008 02:23:59 +0000 http://www.topcreditresources.com/credit-resources/what-are-some-ways-or-resources-to-build-your-credit-score-without-getting-taken-for-a-ride#comment-253 If you're going to pay a high interest rate on the house, I suggest that you NOT buy the house. You are going to throw away a horrendous amount of money on interest. If you find that you can't make the payments, you will lose your house. Rent an apartment while you work on your credit score and then buy the house. Don't count on being able to refinance with a low credit score. If you follow the news at all, you must have heard about the high number of people losing their homes to foreclosures. The reason is that lenders have raised their requirements. People with low credit scores don't qualify to refinance, so they're stuck with their old loans. And with housing prices declining, you may not have enough equity to refinance. In fact, you may go to refinance and find that you owe more on the house than the house is worth. If you do that, you will have to write a check to the mortgage company in order to refinance! The only way to legitimately build your credit score is to borrow modestly or put small amounts of your expenses on credit cards. Then, pay in full every month without exception. If you run up expenses with high APRs, and find that you can't keep up with your payments, then you will ruin your credit score even further. You may even risk bankruptcy. P.S. You may want to take a class on personal finance or pick up a good book on personal finance for beginners. Check with your local adult ed program or community college. Any good bookstore has some good books on the subject. A little knowledge will help you make good decisions on these types of issues.<br><b>References : </b><br> If you're going to pay a high interest rate on the house, I suggest that you NOT buy the house. You are going to throw away a horrendous amount of money on interest. If you find that you can't make the payments, you will lose your house. Rent an apartment while you work on your credit score and then buy the house.

Don't count on being able to refinance with a low credit score. If you follow the news at all, you must have heard about the high number of people losing their homes to foreclosures. The reason is that lenders have raised their requirements. People with low credit scores don't qualify to refinance, so they're stuck with their old loans. And with housing prices declining, you may not have enough equity to refinance. In fact, you may go to refinance and find that you owe more on the house than the house is worth. If you do that, you will have to write a check to the mortgage company in order to refinance!

The only way to legitimately build your credit score is to borrow modestly or put small amounts of your expenses on credit cards. Then, pay in full every month without exception. If you run up expenses with high APRs, and find that you can't keep up with your payments, then you will ruin your credit score even further. You may even risk bankruptcy.

P.S. You may want to take a class on personal finance or pick up a good book on personal finance for beginners. Check with your local adult ed program or community college. Any good bookstore has some good books on the subject. A little knowledge will help you make good decisions on these types of issues.
References :

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