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what is the fastest way to build up your credit?

Discussion in 'BlackHat Lounge' started by 4C3, Sep 3, 2016.

  1. 4C3

    4C3 Newbie

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    looking for everyone's thoughts on this one.
     
  2. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Secured credit card
     
  3. 4C3

    4C3 Newbie

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    hmm, interesting, I'll take a look at that.
     
  4. Malcolm Max

    Malcolm Max Regular Member

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    Keep spending until you reach the limit and pay the bills in time. Do this couple of times then call your card company they will be happy to increase your limits. you can do this again to more limit.
     
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  5. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Did you mean credit score or credit available to you?
     
  6. jordanbc

    jordanbc Registered Member

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    If you have bad or no credit, I would say a secured credit card. But try and get a real one as soon as possible and start using that. Never cancel a card, and make sure you pay it off in full every month. (you would never pay interest either that way)
     
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  7. SEOptimum

    SEOptimum Newbie

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    From my experience charging low priced things on a regular basis(get a good 0% apr). Also, paying your bill off every month as Jordan said above, will accumulate trust and get you more card offers and higher limits.
    I personally try to stay away from CC :confused:
     
    Last edited: Sep 3, 2016
  8. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    If you have bad stuff on your credit report you can pay to have it deleted, if you need a higher score soon to lower apr for a car or house loan etc. It will be pricy but if you have the spare money to do it, it will be worth it

    http://www.myfico.com/crediteducation/calculators/loanrates.aspx
     
    Last edited: Sep 3, 2016
  9. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    American Express and Citibank. HHonors and AAdvantage.

    They love to give people high limit cards. Start churning while you are at it. Get some free vacations. Put things you'd put on a debit card onto a credit card. PAY IT ON TIME EVERY MONTH. Have a one year plan. Make it fun and build your credit in the process:

    Day 0: Apply for the American Express HHonors Card (http://hhonors3.hilton.com/en/earn-use-points/credit-cards/index.html). They gave me a $12,000 credit limit at age 24 with a listed income of $85,000 per year. Meet the minimum spend and enjoy your 50,000 points (that's two nights at a pretty nice Hilton property... I like Embassy Suites). You'll probably have earned another 15,000 from points just for getting to the minimum spend. I got this card when they had a 60,000 point promo.

    Day 90: Apply for the Surpass Card from American Express (http://hhonors3.hilton.com/en/earn-use-points/credit-cards/index.html). This one gave me a $15,000 credit limit at age 25 with a listed income of $110,000 per year. Meet the minimum spend and enjoy your 75,000 points (that's three nights at a pretty nice Hilton property... again, I like Embassy Suites). Continue using the first card once a month to keep it appearing active. You'll probably have earned another 20,000 from points just for getting to the minimum spend. If you didn't spend any points by now you'll be sitting at 160,000 HHonors points. Stash those, continue using the above cards a couple times a month. I got this card when they had a 100,000 point promo.

    Day 180: Apply for the Citi American Airlines Platinum Card. $1,000 in three months gets you 30,000 AAdvantage miles. Continue doing the things outlined above. You will probably earn another 5,000 miles in the three months of card utilization. Grab this during a promotional period and you can get 60,000 miles instead of 30,000.

    Day 270: Step it up. Apply for the Citi American Airlines Executive Card. $5,000 in three months this time for 50,000 AAdvantage miles. You'll probably get another 20,000 miles in the course of these three months. I've gotten mail offering 80,000 miles instead of 50,000 on several occasions, so keep an eye out.

    So by the end of the full year you should be sitting at 180,000 to 220,000 Hilton HHonors points and 110,000 to 150,000 AAdvantage miles.

    But what does this get me?

    American Airlines rewards chart: https://www.aa.com/i18n/aadvantage-program/miles/redeem/award-travel/flight-award-chart.jsp

    25,000 miles for one way Business/First class travel in the lower 48. I live in South Carolina. For 75,000 miles I could grab a three leg flight from Charlotte to Los Angeles to Seattle to New York City back to Charlotte, flying first class the whole time.

    What about hotels?

    Hilton has some awesome stuff. I searched for LA hotels April 4 to April 6 and got this one for 40,000 a night: http://www3.hilton.com/en/hotels/california/hilton-los-angeles-san-gabriel-LAXSGHF/index.html. There goes 80,000 points.

    Seattle April 6 to April 8 has this hotel for 40,000 a night: http://hiltongardeninn3.hilton.com/...arden-inn-seattle-downtown-SEABAGI/index.html. There goes another 80,000 points.

    New York City April 8 to April 10 has awesome hotels for 60,000 points a night or so. You may need to shell out a few hundred bucks here, but hey you've gotten a free week in hotels in three of the most expensive cities in the US, right in the middle of the action, and three first class flights, which would be over a grand a piece without miles. And you've got miles left over for another trip at some point.

    The sky is the limit.
     
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  10. 4C3

    4C3 Newbie

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    I looked in to that, sounds good to me.
     
  11. nickcruz

    nickcruz Junior Member

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    Everything that Sherbert Hoover said is great advice. Churning is the best way. Just make sure you only buy stuff that you have the cash in hand to pay it off. That builds credit the fastest and that way you never actually go in debt so to speak. I built my score to 770 with no job and using my card to pay for small stuff and I'd use it for my friends purchases that they were gonna use cash for and get them to give me the cash on the spot. Then I'd pay the card off right away. Then I got bigger cards and a Line-of-credit.
     
  12. yogib

    yogib Newbie

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    go out and dispute everything negative and keep disputing ...eventually you will get items off. Also get a pay as you go CC
     
  13. 4C3

    4C3 Newbie

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    Got the idea on how to build credit now.
    This forum is so helpful, many different thoughts and ideas and feedback.
     
  14. jiggin

    jiggin Junior Member

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    Go on Craigslist in your area, go into services and type in trade lines or simply fix credit.

    What you want to look for are trade lines and people who will be able to wipe past disputes ect... For you. Ask for Bbb info and make sure they are licenses and bonded.

    There is more to getting things removed than just simply sending letters in.

    Your score will go up just by wiping off past 60 day late notes ect...

    Then you can pay to add trade lines to your account to which boost your score by piggybacking you on someone else's perfect credit line.

    Pm me for more details if you want.