My Credit Score Is Zero...

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

zghorner

Sharpshooter
Special Hen
Joined
Oct 1, 2014
Messages
2,561
Reaction score
944
Location
se okc / tinker aea
im 33 yrs old, no debt, own my house, own a small business that does okay (makes money each year at least), have a good paying job, but my credit score is 0.

Went into a car dealership last week for the first time in my life and the finance guys exact words were "Mr. horner...you havn't bought anything in your whole life have you?"

I did take out student loans which I paid off around 2011 and would think that should count for something...but apparently not.

So what is the fastest most bestest way to build up some credit?
 

BReeves

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Feb 18, 2010
Messages
2,733
Reaction score
1,603
Location
Catoosa
Get a Credit Card, buy things, pay off the balance before interest accrues.

This or a couple store cards like Lowes or Home Depot. Figure you are smart enough to not go to one of those car lots that say we will finance anybody. If you can come up with a fairly large down payment one would think you should be able to get a decent loan on a car.
 

MrShooter

Sharpshooter
Joined
Oct 20, 2010
Messages
4,290
Reaction score
532
Location
Oklahoma
Mine is 750-760. Its not as simple as buying something and paying it off. There are tricks to it

*First off, you need a few credit cards, as bad as it sounds. Dont have to go spend them all the way up. Keep the balance around 20-29%. Dont exceed that. Make it auto drafted monthly. Use the cards for things that will help you make money...or waste it..w/e.. (HIGH IMPACT)

*Never cancel a credit card. ever..

*CREDIT UTILIZATION RATE. Pay attention to it. Keep it low. (HIGH IMPACT)

*Some people with loads of cc debt can get a personal loan from a local bank (with a origin fee) or online through someone like Avant. Your score will rise when your C.U.R lowers, you'd think it'd transfer and stay but they don't count a loan in your utilization rate.

*CREDIT AGE. Every time you apply for a credit, it will drop. Goes off an average . But if you're starting at 0...you got nothing to lose.(LOW IMPACT)
 

JD8

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Jun 13, 2005
Messages
32,824
Reaction score
45,797
Location
Tulsa
This or a couple store cards like Lowes or Home Depot. Figure you are smart enough to not go to one of those car lots that say we will finance anybody. If you can come up with a fairly large down payment one would think you should be able to get a decent loan on a car.

Yep, most of them offer 0% financing of some sort.
 

Latest posts

Top Bottom