YBPGuide - Latest Comments in 5 Ways to Boost Your Credit Score

Re: 5 Ways to Boost Your Credit Score

Fredric — Thu, 21 Jun 2007 15:47:01 -0000

credit is all about reputation. when you apply for a loan, an apt, or any service for that matter, they may check your 'history of paying'. your credit score is simply a number that reflects on how well you keep your promises.

if you don't pay money that you contractually said you would, whether you borrowed or not, those companies and 'creditors' can report that to the credit bureaus and eff up your credit score.

having bad credit not only means that you won't be able to borrow money when you need it (home loans, business loans), but if a bank does take a chance, they'll charge you higher interest rates.

Re: 5 Ways to Boost Your Credit Score

ybpreader — Thu, 21 Jun 2007 11:16:14 -0000

I still don't get how not paying your bills-rent, utilities affect your credit score. You're not paying back 'borrowed money' cos that's what credit is.

Re: 5 Ways to Boost Your Credit Score

Fredric — Thu, 21 Jun 2007 09:53:00 -0000

from my experience, student loans generally have a little grace period of around 30 days. this will affect your credit score badly, if you pay late, so be careful.

to make sure, call them up and ask!

Re: 5 Ways to Boost Your Credit Score

loan — Wed, 20 Jun 2007 19:28:13 -0000

My college loan doesn't fine me if I pay late. I always make sure to pay it before the next cycle begins. Does that hurt my score?

Re: 5 Ways to Boost Your Credit Score

Mark Bustamonte — Wed, 20 Jun 2007 18:43:53 -0000

Great advice. Here’s one more, learn to live debt free or better yet learn how the banking industry makes money on interest and apply similar strategies to your financing. There are 2 types of people in this world, those that pay interest and those that earn interest. For more information on this concept visit Tri-Star Consulting Group, LLC website.

Re: 5 Ways to Boost Your Credit Score

Fredric — Wed, 20 Jun 2007 11:23:01 -0000

good advice. i use the amex gold that requires the 30 day payoff for regular expenses.

for big purchases, i have a visa and discover. i only carry one of them.

the amex gold is probably the best way to handle your credit only b/c you have to pay it off.