Hello everyone...I am actually trying to help my 20 year old son avoid the credit mistakes I have made. My credit is horrible and we are keeping an eye on his to try to build it. Here is an overview...

He is 20 years old, full time job for 1 year 3 mo. One first premier card with a $250 limit paid as agreed for 6 months. That is the only thing on his report. All three bureaus list his score as 702, not sure how this can be???

Here are my questions... Is there any store, gas or mc/visa that he might be approved for? We only did the First Premier to start building. Also, I have a friend who is a manager at the Ford dealership who said he could get him approved, should we open a low balance auto loan to build credit?

Thanks for your time, any help is appreciated. Just want to help him succeed and teach him the importance of credit responsibility (due to my life being much more difficult as a result of my own irresponsibility). He is very responsible for his age but this is all new to him.

Welcome aboard NightStar, please feel free to shine all the light on us that you have to offer! Information is the key source here at FG, we tend to shop around and listen for valuable info!

Congrats on obtaining your business certificate! I am a fan of business myself, also a business student. I just don't think I can concentrate on the consumer side as much...lol! Good Luck!

Thanks for the welcome, I have this week off from school so I should be in often. Once school starts back up I will still check in just not as much.

I am going back to school currently to get a business certificate. I want to start my own business giving talks to consumers about credit.

Good luck with the business, and welcome to the board. ^_^

Thanks for the welcome, I have this week off from school so I should be in often. Once school starts back up I will still check in just not as much.

I am going back to school currently to get a business certificate. I want to start my own business giving talks to consumers about credit.

Welcome to Finance Globe NightStar:candycane:

Welcome aboard Nightstar! I look forward to reading your posts in the near future.

Welcome to Finance Globe Pammila !

I feel 100% confident that you are in the right place. We need a subject matter expert in this area, and your posts will be more than welcome. FG members realize that credit ratings are an important factor to a happy life.

Mike

Hello my name is Pammila and I look forward to contributing to your board.

I have worked on various message boards for more than 8 years, and prior to that I worked for a credit bureau.

I like to teach consumers about these issues:

Ordering Credit Reports
Disputing with the Credit Reporting Agencies
Understanding Reporting Periods
Understanding Statute of Limitations
Dealing with ID Theft
Credit issues involved with Bankruptcy
How to fix Mixed / Split Credit Files
Understanding Credit Scoring

There is much more, but I just can't remember it - until someone asks of it.

I look forward to contributing to the message board here.

Thanks, Pammila - NightStar

heya looks good here,just created account and thought to say hello

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Hey there steaker! I remember when streaking was the thing to do. LOL Run around naked in the city!

Hello everyone...I am so glad that I subscribed to this network! It has really been helpful reading all the reviews etc. I am 25 with poor credit scores ranging from 470-508. I recently decided that I wanted to get my own home and not rely on my parentals (lol)...so I went to a new home builder that had a credit rebuilding program for people like me...I have only had one credit card in my life with Capitol One, (which I got in college and is now a collection on my credit). Now I have a secured credit card with my credit union with a credit limit of $300 and I am going to increase the limit in $100 increments...I would determined to get my credit scores up the 650-700 range...any suggestions?

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Let your secured cc grow a bit. App for a secured card from a local credit union if possible. Let these grow. It will take 2-3 years for that CO to not affect you. Credit is not gained in a day and whenever possible pay cash, it is KING!

I guess I'm illiterate to collections. Hehe. Well, hopefully I will never need to know information about them. My aunt used to be a collector. :\

Smcc, it's better if the employer doesn't see the collection at all that's why if you're going to pay, PFD should be the only way. It doesn't matter if it reports as paid or unpaid because it shouldn't be there in the first place.

I disagree Young Man, apply for a job where a background check is done and believe me a paid collection looks better than an unpaid collection. They (prospective employer) will inquire as to why that acct(s) was not paid.

Create a budget and mix your credit (Hjm's suggestion). And just keep doing what you're doing! Also if you haven't paid all your collections, do that asap.

A paid collection is no better than an unpaid collection. It's better to make arrangements for a PFD (Pay For Delete) where the CA would agree to remove the collection from your reports when they receive your payment.

Welcome to FG! Feel free to share any questions you might have or credit knowledge from past experiences that will benefit the other members here.