Quote:
Originally Posted by FFMaro
Exactly, I am just asking if anyone would have an idea as to how long it might take me to build enough credit history to make my purchase.
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About a year, honestly.
And seriously, SERIOUSLY, don't take that guy's advice from that book. Opening a bunch of new accounts will hurt more in the long run. You need multiple trade-lines for a mortgage, true, but your car will count as one of them; and making your payments on time is the most important factor of your credit history.
If you must open more than one or two credit cards, don't do them all at once; it makes you look like you're in trouble. Research each card before you get it. Keep your limits low; and never exceed 50% of your balance on each card. Shuffle balances around if you need to but keeping it under 50% is crucial. Most importantly of all; make your payments on time!!!
An easy way to build secured credit is to go to whatever bank you currently have an account at with $500 and ask them to open a secured line of credit for you with that money. That way they'll be more inclined to give you a card and it will be more stable.
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Right now it's an '03 Nissan Frontier Supercharged Desert Runner I call Starscream.
On order is a 1SS/ RS IBM with Black Rally Stripes, Beige Interior, manual transmission and a sunroof! Oh, and a stereo upgrade too! Ordered from CamaroScotty in WI. How will I get my baby home?