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12-11-2009, 12:05 PM
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#1 | | HELP ME PLS!!!
Join Date: Dec 2009 Location: Canada
Posts: 5,647
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| Credit score
How to build up credit score? What's involve ? Could you guys list out all the possible ways ?
Things I know for sure are Credit card payment and Consistant incomes
Not sure if the following has any effect on the scores : phone bills, student loan bill, ICBC insurance ..etc.
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12-11-2009, 02:49 PM
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#2 | | My homepage has been set to RS
Join Date: Apr 2005 Location: vancouver
Posts: 2,217
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any where u owe money , and skip payments, can and does effect ur score.
just paying ur bills on time helps.
i had bad score because i left $15 outstanding (interest), that was applied after i had paid of my FS card. and i moved province. so was untracable.
anyhow i paid my bills on time and now im in the green.
Do not take out too many CC, as more the credit , higher the risk when u go for a mortgage..etc.
Last edited by tool001; 12-11-2009 at 03:55 PM.
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12-11-2009, 02:59 PM
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#3 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,138
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given that you pay all your bills on time, the only way to build up credit is time.
every time someone does a credit check on you, you lose 6 pts.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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12-11-2009, 04:31 PM
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#4 | | RS.net, where our google ads make absolutely no sense!
Join Date: Aug 2005 Location: vancouver
Posts: 991
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keep your balance's low. never max out your cards or get close to max. don't ask for any credit for 1 year or more. contact Equifax and make sure you information is up to date. don't close your oldest credit accounts (the ones with most payment history) pay more than the minimum. don't make any inquiries about your credit account unless its with a credit bureau. you will asked by banks if you want other products that would help you, don't take them because to qualify they will need to make an inquiry that would result in negative points. Only thing I would consider is a line of credit with a low interest rate to pay off high interest accounts. if you got a best buy card you can take advantage of their "Credit alert" service that provides a free credit score and personal credit information. that service does charge a monthly fee but when you receive your score you then cancel the service before the 30 day trial period is up. you can do that every 6 months or yearly. Remember, you just have to call the number on your best buy card and ask for the service.
I did that and my score is over 800 now. if you got any questions just message me.
Last edited by to0n; 12-11-2009 at 04:41 PM.
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12-12-2009, 04:52 AM
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#5 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Jan 2005 Location: Vancouver
Posts: 9,569
Thanked 3,604 Times in 1,216 Posts
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| Quote:
Originally Posted by to0n  keep your balance's low. never max out your cards or get close to max.
don't ask for any credit for 1 year or more. contact Equifax and make sure you information is up to date.
don't close your oldest credit accounts (the ones with most payment history)
pay more than the minimum.
don't make any inquiries about your credit account unless its with a credit bureau. you will asked by banks if you want other products that would help you, don't take them because to qualify they will need to make an inquiry that would result in negative points.
Only thing I would consider is a line of credit with a low interest rate to pay off high interest accounts. if you got a best buy card you can take advantage of their "Credit alert" service that provides a free credit score and personal credit information. that service does charge a monthly fee but when you receive your score you then cancel the service before the 30 day trial period is up. you can do that every 6 months or yearly. Remember, you just have to call the number on your best buy card and ask for the service.
I did that and my score is over 800 now. if you got any questions just message me. | Usually when i make a big purchase, I tend to pay more than 50% of it the next day, followed up with smaller payments way before the due date.
My credit increases depending on how much I spend, I don't even ask.
Well so far I've held onto the same Visa for 3+ years, never signed up for any other cards.
I make payments way before the due date.
And the last couple of points can't really answer cause I haven't experienced them yet.
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Originally Posted by The_AK Or you meet some girl at the club, cum inside of her, find out shes only in grade 12, so you buy a Prada bag for her to make things right, she finds out the bag is a fake and decides to have the kid | Quote:
Originally Posted by RX_Renesis wtf did she get some bolt-on titties or what?
they look sooooooooooo much bigger than they were 2ish years ago. | Quote:
Originally Posted by nns I can't stand the sound of Mandarin either. Boo yow nee bey nee shing bo now noong gey shee mayo mayo mayo mayo mayo mayo mayo. | | |
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12-12-2009, 10:09 PM
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#6 | | HELP ME PLS!!!
Join Date: Dec 2009 Location: Canada
Posts: 5,647
Thanked 1,816 Times in 450 Posts
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nice tips..... our credit score only good in BC ? If you go down to Alberta or out of country, you start with a new score ?
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12-13-2009, 03:22 AM
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#7 | | Ready to be Man handled by RS!
Join Date: Sep 2004 Location: Nanaimo
Posts: 89
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Credit score is good for all of Canada, probably the USA if your stuff reports to Trans Union.
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12-14-2009, 04:30 PM
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#8 | | Banned (ABWS)
Join Date: Feb 2009 Location: Kits/Richmond
Posts: 4,409
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Your score does not follow you to Australia as my friend learned.
She considered defaulting on her loans and declaring Canadian bankruptcy. If she stays out of Canada 7 years, all the hassles of a bankruptcy will be over by the time she returns.
Interesting eh? Go get a large loan then skip the country!  | |
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12-14-2009, 05:11 PM
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#9 | | HELP ME PLS!!!
Join Date: Dec 2009 Location: Canada
Posts: 5,647
Thanked 1,816 Times in 450 Posts
Failed 4,294,967,295 Times in 173 Posts
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7 yrs ??? what i heard is 10 yrs and everything will be cleared ?
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12-14-2009, 05:17 PM
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#10 | | Ubereem Mod
Join Date: Mar 2002 Location: Richmond
Posts: 3,070
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Originally Posted by taylor192 Your score does not follow you to Australia as my friend learned.
She considered defaulting on her loans and declaring Canadian bankruptcy. If she stays out of Canada 7 years, all the hassles of a bankruptcy will be over by the time she returns.
Interesting eh? Go get a large loan then skip the country! | hahahaha, it's happening quite a bit in States.
File / get someone to take care of a bankruptcy agency/ go away for 10 years.
COme back rich and loaded :P
__________________ Quote:
Originally Posted by Culture_Vulture sometimes I like to use kindergarten art class scissors to cut my pubes | | |
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12-14-2009, 05:25 PM
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#11 | | HELP ME PLS!!!
Join Date: Dec 2009 Location: Canada
Posts: 5,647
Thanked 1,816 Times in 450 Posts
Failed 4,294,967,295 Times in 173 Posts
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one of my freind told me their relative once withdraw xxxxx amount of money from ATM and flee back to HK and never return..this was happening like 15 or so years ago
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12-15-2009, 11:30 AM
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#12 | | Unauthourized Spammer
Join Date: Jun 2005 Location: .
Posts: 494
Thanked 64 Times in 20 Posts
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| Quote:
Originally Posted by taylor192 Your score does not follow you to Australia as my friend learned.
She considered defaulting on her loans and declaring Canadian bankruptcy. If she stays out of Canada 7 years, all the hassles of a bankruptcy will be over by the time she returns.
Interesting eh? Go get a large loan then skip the country! | Have a friend that took a huge ass loan (unsecured $500,000). He sold his house and moved to Australia to start up a company.
The funny thing is, he has about $120,000 in RSP's which the government can't touch. The only problem is that if he wants to come back to Canada in 7 years he's in trouble.
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