Credit history
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How do you build a good credit record here? To do that you need a credit card I guess. But to get a credit card you need a good credit record. Only other option is secure cards where you deposit an amount equal to your credit limit. Not easy for people like me who live month to month. I cant even buy a mobile phone cause they said I need credit record or else I have to pay 1000 as deposit. I dunno what to do really!!! One big lesson to be learned from all this is that you are always an alien when you leave your home place. I feel bad about all the things I called good old Trivandrum. I must have hurt her a lot. I owe her a public apology :(( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Got a student Credit the year before last. Very easy to get over here. I put a a low limit on it IR£500 [about €625] and tried to use it a little as possible. My wallet got stolen and I never replaced the card after that... I didn't use it all that much. I'll probably get one fairly soon. Regards, Brian Dela :-)
Run naked in the snow until you're sweating like a stuck pig and can't seem to catch your breath. When the flu becomes pneumonia, they can cure that with a shot. - Roger Wright -
David this post I'm replying too gave me a funny error, and tried to get a page from "onetel" ? It hasn't done it again Regardz Colin J Davies
Sonork ID 100.9197:Colin
You are the intrepid one, always willing to leap into the fray! A serious character flaw, I might add, but entertaining. Said by Roger Wright about me.
Shh, don't tell anyone. I am building an archive of each members' hard drive for future "persuasion" possibilities. I'm thinking of branching out my local protection racket to include a bit of intimidation and extortion on the new estate they're bulding, so I’ll need some legitimate overseas businesses to clean the extra cash for me. I've all ready got the feds on my back from that two mil I had sitting in cases in the boot of my Jag when it was nicked - you try explaining why Reuters gave you such a generous donation in the same week their staff union striked - so running it through the usual channels would just draw unwanted attention from the state. I may have more local officials on my payroll than the regional government does but the boys in London want ten points from me monthly - ten! Sheesh, they are bigger criminals than I am! :omg: It happens from time to time if you mouse over my sig and something else is happening in your open browsers. As my sig has some JavaScript working behind the scenes in it before it can display, it gets forced to wait and can pause for a few seconds. I too have noticed it a couple of times. :((
David Wulff http://www.davidwulff.co.uk
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How do you build a good credit record here? To do that you need a credit card I guess. But to get a credit card you need a good credit record. Only other option is secure cards where you deposit an amount equal to your credit limit. Not easy for people like me who live month to month. I cant even buy a mobile phone cause they said I need credit record or else I have to pay 1000 as deposit. I dunno what to do really!!! One big lesson to be learned from all this is that you are always an alien when you leave your home place. I feel bad about all the things I called good old Trivandrum. I must have hurt her a lot. I owe her a public apology :(( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
I agree about getting a low limit credit card. You may want to start a small savings account at a credit union, and usually after 3-6 months they will allow you to get a credit card through them. As for a phone, go with a pre-paid cell phone. It is a pretty decent deal, and if the service sucks, you don't have a contract either. I assume that you will have utilities in your name? They are a great way to build credit. It takes time to build a credit score, but only takes a minute to blow it. Give it some time, and just use cash where you can. Shawn
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You need to start somewhere, so just start applying for cards. I think the first credit card I got when I was in college had like an $800 limit, it was pretty low. My friendly advice is get one card, and only one. Don't use it unless there's no other way to pay (cash, check, debit card that deducts from your checking account) so you don't over-spend and then have to pay interest on the portion you can't pay off immediately. --Mike-- I'm bored... Episode I bored. 1ClickPicGrabber - Grab & organize pictures from your favorite web pages, with 1 click! My really out-of-date homepage Sonork-100.19012 Acid_Helm
Thanks for the tips Mike. The fact is I dont wanna buy anything on credit at all. I just wanna use it to build a good credit recoird. Liek I buy something using my credit card and the very next day I settle it from my debit account. That way it's never really on credit. I will pay up in one day. In fact I'll buiy everything using ONLY my credit card but will pay it off the next day from my normal checking accnt debit card. That way there will be a lot of credit transactions through my credit card which shsould give me a good credit record I hope. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
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Credit cards are evil. If you elect me as the cybernet dictator I will abolish all credit card debt. Regardz Colin J Davies
Sonork ID 100.9197:Colin
You are the intrepid one, always willing to leap into the fray! A serious character flaw, I might add, but entertaining. Said by Roger Wright about me.
Colino I dont want to use the credit card as a credit card. I will only buy stuff using it for building a credit record. Say I purcxhase for 200 bucks on Monday, I pay it back on Tuesday. I will never buy on credit anything that will be higher than an amount I already have on my checking account. Got it? Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
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First listen to Michael Dunn. Only charge what you can pay off that month. I use mine but I take out the payment from my available funds when I buy something, I never count on having the money latter. Most student cards require the backing of someone else who will gaurantee the card, so that you will just have to check. What I did (student cards did not exist back then) was to buy a washer on credit from the store (yes it was 18%) but paid it off in 3 months. Walla I now have a creidt history and can get a card. If you do not need a washer then how about a small stero or TV. And yes you need one just for a second ID if nothing else. "I will find a new sig someday."
Michael A. Barnhart wrote: First listen to Michael Dunn. Only charge what you can pay off that month. I use mine but I take out the payment from my available funds when I buy something, I never count on having the money latter. Michael, my plan is different. I will use ONLY the credit card. But the next day (or even same day) I will pay it off from my checking accnt. So I will use the credit card as a sort of delayed debit card, the delay is only 1 day maximum. THis is only to build a credit record. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
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I agree about getting a low limit credit card. You may want to start a small savings account at a credit union, and usually after 3-6 months they will allow you to get a credit card through them. As for a phone, go with a pre-paid cell phone. It is a pretty decent deal, and if the service sucks, you don't have a contract either. I assume that you will have utilities in your name? They are a great way to build credit. It takes time to build a credit score, but only takes a minute to blow it. Give it some time, and just use cash where you can. Shawn
Shawn Horton wrote: As for a phone, go with a pre-paid cell phone. The rates are bad. Post paid phones have weekends and nights off. So I can call unlimited. Prepaid means I can jus use it as an emergency p[hone. My purpose is different. I feel very gloomy and depressed at night when I am home. So if I could some of my buddies here (CPians included) it'd cheer me up I hope :-) Shawn Horton wrote: I assume that you will have utilities in your name? They are a great way to build credit. It takes time to build a credit score, but only takes a minute to blow it. Nope. No utils in my name. I am sharing the rent with a friuend, but all the utils are in his name, like phone, gas, electricity etc... :-( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
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Thanks for the tips Mike. The fact is I dont wanna buy anything on credit at all. I just wanna use it to build a good credit recoird. Liek I buy something using my credit card and the very next day I settle it from my debit account. That way it's never really on credit. I will pay up in one day. In fact I'll buiy everything using ONLY my credit card but will pay it off the next day from my normal checking accnt debit card. That way there will be a lot of credit transactions through my credit card which shsould give me a good credit record I hope. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Another way to gain credit is to build a record of timely payments on regular expenses - utilities and such. It's slow, but records gradually accumulate. Some debit cards also help to build credit records - you'd have to ask the bank. The easiest way is to buy something on credit from someone who isn't picky about loaning. Car dealers are being incredibly lax in this regard right now because car sales suck at the moment. I established my first credit by purchasing a stereo ($300 spread over 18 months at 16% interest) when I was 18 years old. By the time I was 30 I could buy a small house on Visa cards. Credit is problematic - it's deadly, but critical for survival in the US. I'm in a bind myself, despite years of experience managing credit wisely. It's not unusual to carry a level of debt to spread the cost of a large purchase over time. It makes economic sense for capital purchases to be paid over the life of the item, too. But if you experience a sudden loss of income, as I did when I was laid off, the phone calls and threats start immediately and become more persistent over time. Even if income is restored after a few months, there is no possibility of repaying the missed payments and making accounts current. By all means, establish your credit - you have to have it to live here. But stick to your plan to pay it off each month, even if you have to do without things you'd like to have. There is nothing wrong with carrying a load of debt, but in retrospect I'd suggest that you never have more debt outstanding than you have savings sufficient to pay it off immediately if your income should suddenly end. I've gone to find myself. If I should get back before I return, please keep me here.
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Michael A. Barnhart wrote: First listen to Michael Dunn. Only charge what you can pay off that month. I use mine but I take out the payment from my available funds when I buy something, I never count on having the money latter. Michael, my plan is different. I will use ONLY the credit card. But the next day (or even same day) I will pay it off from my checking accnt. So I will use the credit card as a sort of delayed debit card, the delay is only 1 day maximum. THis is only to build a credit record. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Nishant S wrote: But the next day (or even same day) I will pay it off from my checking accnt. That's not how it works, Nish. You might be able to pay it the next day, if you want to create a hassle for yourself and the credit card company, but they're not set up to do business that way. They send you a monthly statement listing the charges you've made that billing period, and you can pay either a minimum (usually 2% of the total balance) or any amount over that up to the full balance. You'll need to be very disciplined, as it's all too easy to get to the end of a month and discover that there's not enough left in checking to cover the total on the card. After the first billing cycle, any balance left over begins to accrue interest charges, and if a payment arrives after the due date, there will be hefty late charges, as well. By all means, do get a card, but keep close track of your charges and keep it paid off each month. I've gone to find myself. If I should get back before I return, please keep me here.
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Nishant S wrote: But the next day (or even same day) I will pay it off from my checking accnt. That's not how it works, Nish. You might be able to pay it the next day, if you want to create a hassle for yourself and the credit card company, but they're not set up to do business that way. They send you a monthly statement listing the charges you've made that billing period, and you can pay either a minimum (usually 2% of the total balance) or any amount over that up to the full balance. You'll need to be very disciplined, as it's all too easy to get to the end of a month and discover that there's not enough left in checking to cover the total on the card. After the first billing cycle, any balance left over begins to accrue interest charges, and if a payment arrives after the due date, there will be hefty late charges, as well. By all means, do get a card, but keep close track of your charges and keep it paid off each month. I've gone to find myself. If I should get back before I return, please keep me here.
Roger Wright wrote: You might be able to pay it the next day, if you want to create a hassle for yourself and the credit card company, but they're not set up to do business that way. Okay, so even if I cant it the next day, I'd still like to pay the full amount the moment I get bthe first bill (and I think the first bill is interest-free). BTW you sure it'd be a hassle if I pay it off even before they send me the bill? Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
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Jon I am not a student, so that rules Student Visas out I guess. Unless I can convince them that I am learning new stuff on C++ every week. But that wont work :-( Funnily one of the people at the bank, a cool guy named Chris, told me that student visas are an option, another person, a nice woman, said being a non-student that option is off :( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
I can't remember whether I had to provide proof of my student status or not - that was over 6 years ago. :) But I'd say it's worth a shot - they issue those things to almost everyone who applies. Jon Sagara Working with a database is iterative, like sex, but painful instead of pleasurable. -- Marc Clifton[^]
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Roger Wright wrote: You might be able to pay it the next day, if you want to create a hassle for yourself and the credit card company, but they're not set up to do business that way. Okay, so even if I cant it the next day, I'd still like to pay the full amount the moment I get bthe first bill (and I think the first bill is interest-free). BTW you sure it'd be a hassle if I pay it off even before they send me the bill? Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
You can pay the next day if your card has an online payment system. Jon Sagara Working with a database is iterative, like sex, but painful instead of pleasurable. -- Marc Clifton[^]
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Michael A. Barnhart wrote: First listen to Michael Dunn. Only charge what you can pay off that month. I use mine but I take out the payment from my available funds when I buy something, I never count on having the money latter. Michael, my plan is different. I will use ONLY the credit card. But the next day (or even same day) I will pay it off from my checking accnt. So I will use the credit card as a sort of delayed debit card, the delay is only 1 day maximum. THis is only to build a credit record. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Nishant S wrote: I will use ONLY the credit card. But the next day (or even same day) I will pay it off from my checking accnt. So I will use the credit card as a sort of delayed debit card, the delay is only 1 day maximum. Nish, That is what both I and Michael were trying to say. So long as you stick to your plan you will do well. So many people get in the trap of thinking in monthly payments. "I will find a new sig someday."
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Shh, don't tell anyone. I am building an archive of each members' hard drive for future "persuasion" possibilities. I'm thinking of branching out my local protection racket to include a bit of intimidation and extortion on the new estate they're bulding, so I’ll need some legitimate overseas businesses to clean the extra cash for me. I've all ready got the feds on my back from that two mil I had sitting in cases in the boot of my Jag when it was nicked - you try explaining why Reuters gave you such a generous donation in the same week their staff union striked - so running it through the usual channels would just draw unwanted attention from the state. I may have more local officials on my payroll than the regional government does but the boys in London want ten points from me monthly - ten! Sheesh, they are bigger criminals than I am! :omg: It happens from time to time if you mouse over my sig and something else is happening in your open browsers. As my sig has some JavaScript working behind the scenes in it before it can display, it gets forced to wait and can pause for a few seconds. I too have noticed it a couple of times. :((
David Wulff http://www.davidwulff.co.uk
David Wulff wrote: Shh, don't tell anyone. I am building an archive of each members' hard drive for future "persuasion" possibilities. Must have been a fucking boring 30 seconds reading through the insignificant crap on my HDD. ;P Michael Martin Australia mjm68@tpg.com.au "I personally love it because I can get as down and dirty as I want on the backend, while also being able to dabble with fun scripting and presentation games on the front end." - Chris Maunder 15/07/2002
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Thanks for the tips Mike. The fact is I dont wanna buy anything on credit at all. I just wanna use it to build a good credit recoird. Liek I buy something using my credit card and the very next day I settle it from my debit account. That way it's never really on credit. I will pay up in one day. In fact I'll buiy everything using ONLY my credit card but will pay it off the next day from my normal checking accnt debit card. That way there will be a lot of credit transactions through my credit card which shsould give me a good credit record I hope. Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
That's not quite how it works. When you have a credit card, you get a bill every month that lists all the charges you made during the previous month. If you pay the full balance by the due date on the bill, then fine. Otherwise, if you only pay part of the balance, you start getting charged interest on the remainder. That is what you need to avoid, since you'll end up paying more money. --Mike-- I'm bored... Episode I bored. 1ClickPicGrabber - Grab & organize pictures from your favorite web pages, with 1 click! My really out-of-date homepage Sonork-100.19012 Acid_Helm
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Shawn Horton wrote: As for a phone, go with a pre-paid cell phone. The rates are bad. Post paid phones have weekends and nights off. So I can call unlimited. Prepaid means I can jus use it as an emergency p[hone. My purpose is different. I feel very gloomy and depressed at night when I am home. So if I could some of my buddies here (CPians included) it'd cheer me up I hope :-) Shawn Horton wrote: I assume that you will have utilities in your name? They are a great way to build credit. It takes time to build a credit score, but only takes a minute to blow it. Nope. No utils in my name. I am sharing the rent with a friuend, but all the utils are in his name, like phone, gas, electricity etc... :-( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Not quite the same as phoning people, but I assume you use MSN messenger (I think you've mentioned Sonork before, but I've never got round to installing that) You can add me on MSN if you want ( benjymous yahoo.com ) :) (I'm usually online most evenings [13:00-19:00ish CP time]) -- Help me! I'm turning into a grapefruit!
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How do you build a good credit record here? To do that you need a credit card I guess. But to get a credit card you need a good credit record. Only other option is secure cards where you deposit an amount equal to your credit limit. Not easy for people like me who live month to month. I cant even buy a mobile phone cause they said I need credit record or else I have to pay 1000 as deposit. I dunno what to do really!!! One big lesson to be learned from all this is that you are always an alien when you leave your home place. I feel bad about all the things I called good old Trivandrum. I must have hurt her a lot. I owe her a public apology :(( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Just wait for the system to catch (up to) you. It'll take a few months, then everyone and their mother will be offering you credit cards. BTW, 7-11 has cell phones that are "pay as you go". Marc Help! I'm an AI running around in someone's f*cked up universe simulator.
Sensitivity and ethnic diversity means celebrating difference, not hiding from it. - Christian Graus
Every line of code is a liability - Taka Muraoka -
Can't you just get a debit card from your bank? They are typically Visa Delta cards and work everwhere I've ever needed to use one.
David Wulff http://www.davidwulff.co.uk
Beat me to it David, but living within your means isn't the american way ;P The tigress is here :-D
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Beat me to it David, but living within your means isn't the american way ;P The tigress is here :-D
Trollslayer wrote: living within your means isn't the american way It's not that we don't live within our means, it's that our means have a nasty habit of changing unexpectedly. :( I've gone to find myself. If I should get back before I return, please keep me here.
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How do you build a good credit record here? To do that you need a credit card I guess. But to get a credit card you need a good credit record. Only other option is secure cards where you deposit an amount equal to your credit limit. Not easy for people like me who live month to month. I cant even buy a mobile phone cause they said I need credit record or else I have to pay 1000 as deposit. I dunno what to do really!!! One big lesson to be learned from all this is that you are always an alien when you leave your home place. I feel bad about all the things I called good old Trivandrum. I must have hurt her a lot. I owe her a public apology :(( Nish
Author of the romantic comedy Summer Love and Some more Cricket [New Win] Review by Shog9 Click here for review[NW]
Nishant S wrote: I feel bad about all the things I called good old Trivandrum. I must have hurt her a lot. I owe her a public apology Hmm, are you by any chance referring to Beautiful Trivandrum? Beautiful, Exotic, Trivandrum? ;P
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Shog9 The siren sings a lonely song - of all the wants and hungers The lust of love a brute desire - the ledge of life goes under