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What is the fastest way to build credit. I don;t have bad credit just not enough.

by Jcoyne9203 from South Portland, Maine. Mar 30th 2014 Reply


Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

What do you need more credit for? Are you looking to buy?

Mar 30th 2014
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John Moran (SimplifyMortgage)
#7 ranked lender in Arizona - 663 contributions

This is a tough question to answer without more information. It ouwld depend where you are now and what your goal is. For some very detailed info, take a look at teh forums over at myfico.com, it is a great resource to learn more about credit. Here's a link: http://ficoforums.myfico.com/

Mar 30th 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Generally speaking, the easiest way is to obtain a new credit card or two... But for rocking credit scores, they like to see a balance of credit... Like a mortgage, a car loan, and a couple of credit cards.

Mar 31st 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

As mentioned previously, lenders like to see 2 open/active trade lines. If you don't have two already, check with a local credit union about credit building options. Usually they will have options. IF you open a credit card, just make sure you keep your balance less than 30% of the limit on the card. Ideally just use it once a month (buy gas) and pay the bill in full when it comes in. Good luck.

Mar 31st 2014
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