This article is about building credit for those who have little to no credit and wish to build their credit in order to obtain a loan. For reasons why this is important, even if you don’t see yourself as much of a borrower, see our previous post Using credit cards to build wealth and get free stuff. For the purposes of this article, however, we will go step by step and assume that you are starting from scratch. Building your credit is like building your resume–it doesn’t happen overnight, and ultimately it will be like a portfolio of your previous decisions that will be used when you need to prove your (credit) worth. Thus, we are going to treat this like building your credit resume.
Top 10 ways to build your credit resume
Filed under Personal Finance, Students on April 17th, 2009 by jayson
Using credit cards to build wealth and get free stuff
Filed under Credit Cards on April 1st, 2009 by jayson
When you mention credit cards to most people they talk about them as if they were some kind of sin. This is because so many credit card companies have charged consumers an ungodly amount of interest for their credit. However, if used correctly, consumers can not only save time and energy by using credit cards, but also make money and get a whole bunch of free stuff. The following is a list of seven principles that will help you to use rewards and cash back credit cards to make money and get free stuff. In addition to this, check out our upcoming articles Top 5 rewards cards w/ no annual fee and Top 5 cash back cards w/ no annual fee
1. Be disciplined… Never pay interest – how on earth are you ever going to make money on credit cards if you are stuck paying their ridiculous interest rates. Most charge between 13% and 19% per month and this is for people who have not missed payments… how is this legal? Many people get sucked in through 0% interest for a certain period of time, but then the build such a large debt load that they cannot pay it off before the introductory period ends and find themselves paying out the wazoo. The name of this game is to stay disciplined. PAY OFF YOUR CARD EVERY MONTH and don’t get charged interest. This is the first and foremost principle in using credit cards to your advantage.
Introducing Loan Shrimp: your guide to loans, credit cards and personal finance
This is the introductory article for Loan Shrimp, a resource for personal finance, mortgage loans, identity protection, and keeping you out of troubled financial waters. In today’s shark infested financial ocean of failed mortgages, tightening credit, and high consumer debt, we are here to provide a life vest of information for fellow swimmers.
We will be providing tips and tricks as well as resources that you can use to stay ahead of the game financially. Our goal is to make credit your friend – to enable you to use your good credit to build wealth rather than strip it away. We give our readers tips and tricks that are designed to aid in the process of building good credit and using it to your advantage.
