Scarlett Posted May 27, 2021 Share Posted May 27, 2021 I recovered from some pretty bad debt by way of simply not working and not paying my debts LOL! I know that sounds terrible but when my anxiety/panic attacks got bad, I had to quit my job and had cards I just couldn't pay off. Time has lapsed and the debt is no loner on my records but I would like to start building credit again without getting back in trouble with it. Any tips? Quote Link to comment Share on other sites More sharing options...
James Posted May 28, 2021 Share Posted May 28, 2021 The credit system makes you use credit to improve your score. I know it is a total scam! There are ways to safely build credit though while restricting yourself from falling back to what ever got you into debt in the first place. -Secured Credit Card (All the banks offer this where you lay down cash and that cash is your line of credit) -Low limit credit card (Ask for a low limit and just put your Netflix subscription on it and setup auto pay. That is all the card will be used for) -Make sure to pay all your other bills on time Living a debt free life is also an option then credit is not needed :P. I know that is not an option for many people depending on where they are in there life and it is still nice to have a good score just incase and to get 0% financing on automobiles :). Play it safe and spend within your means. Credit is the trap that gets you stuck working for corporations the rest of your life so you can pay your bills. 1 Quote Link to comment Share on other sites More sharing options...
Stacey Posted June 5, 2021 Share Posted June 5, 2021 When I was younger, I was told it was better to have bad credit than no credit. These days, I am not so sure. I feel like you want to establish credit and raise your scores with as little as possible (not a lot of cards, bills, etc.) and keep it balanced. If you start adding in more credit lines, you can easily get overwhelmed and fall behind. So I would say to only have the bare minimum when it comes to getting your scores up and keeping them there. 1 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted June 15, 2021 Author Share Posted June 15, 2021 On 5/27/2021 at 9:46 PM, James said: -Low limit credit card (Ask for a low limit and just put your Netflix subscription on it and setup auto pay. That is all the card will be used for) I didn't even think to use something like Netflix to up a credit score. That is genius! Your card will never get maxed out and you end up making the monthly payments anyways so it kind of sets up almost a farming system that would be hard to mess up. Going to try this for myself. 1 Quote Link to comment Share on other sites More sharing options...
Yonder Posted June 16, 2021 Share Posted June 16, 2021 You need to first understand yourself, are you someone with a lot of control or not (It is not wrong or shameful to admit this). If you lack control, try to stay away from anything that can generate debt, for example Credit cards. Try to live only with the money that you earn. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.