Need to build Credit!!

[Anonymous]

Hello All! Need to build my credit ASAP! Anybody know of ways to add credit aside from Secured Credit Cards?

[roniram]

Building credit is something that takes time.   And a large portion of the FICO scoring is based on credit cards.  SO, obtaining a credit card is going to be your best shot.

If you have no credit, it may be easier to obtain a credit card than if you have bad credit.  There are several credit cards you may qualify for unsecured.  They may be small limits, but it is a start.  What exactly are you trying to accomplish?

[Anonymous]

I'm trying to establish some credit to buy a vehicle and get a decent interest rate.

[roniram]

Well, like I said, it will take some time.  Capital One is one of the easiest places to get an unsecured credit card.  Try their pre-qual site.  If you are prequalified, generally you will get their card.  If you follow some of the advice listed on these forums (which is ALOT of advice) your score will eventually rise to the point you will qualify for better credit.  Me, it took about 1 1/2 years to get to that point (had to remove old lates, collections and a bankruptcy to fall off)  But, some people can do it in mere months.  

Whatever crredit card you get - DONT KEEP BALANCES ON IT.  Took me years to figure that out.  If you can't pay it off, or keep a small balance (less than 10%), then don't bother with the card.

[Anonymous]

Gotcha! Thank you for your help!

[Anonymous]

There's more secured credit cards out there than I knew of. Shoot, just learnt that Citi has one as well.

Shop around!