How do you get good credit?
I am trying to get a loan for a car, and am having no luck. They say my credit isn’t good enough, which I don’t understand.
I don’t have anyone to co-sign for me to get a loan. Everyone in my family has really really really bad credit. The only people who has great credit isn’t willing to sign for some reason.
I’ve had a credit card, and a cell phone for about two years (since I was 18), that I have paid every month before the day the payment is due. My credit card company has even upped my credit limit hundreds of dollars because of my good & large payments. I’ve never been close to my maximum limit, nor do I ever want to be. I have also been paying my doctor bill every month the last year.
I don’t owe any other money – no student loans or anything like that.
I just don’t understand why I can’t get a loan, if my credit is obviously pretty good. I’m sick of using crappy POS cars that only last me a few months.
From what I’ve been told, you need at least 3 lines of credit to build up a good credit score. I have 4 credit cars, student loans and a car loan, and I make sure all my payments are made on time, and throw a few extra dollars in when I can. They look at your debt – income ratio also, so that could be it. I don’t take out a lot at all on my credit cards. I learned my lesson when I maxed 2 out and paid them off. See if you can get approved for 2 more credit cards, and just start buying little things and paying them off. But a CD, pay it off. Buy some gas, pay it off. Just don’t let that freedom get you in trouble. It’s so easy to just use up that money without realizing the consequences.
