How's your credit?

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Stanley

Stanley

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Jun 24, 2006
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San Diego
Since so many of us are self employed, building credit is not easy. It's difficult to show a proof of income when all you have is your adsense balance.
At the same time, without credit you can't buy a house, can't get a car lease, and can't open a credit card.

So, how's your credit? and what are you doing to improve it?
 


I probably have the worst credit on this site. I am definitely not in any debt anymore but years ago when I was a poor university student I racked up way more debt then I could handle and fucked over my credit rating. I paid everything off and then started working for myself, so I havn't even tried rebuilding my credit, I just pay cash for everything.
 
Try applying for a credit card, and little by little start building credit.
You cant even get a new cell phone plan without the company doing a credit inquiry.
 
My personal credit is knackered due to lots of recording equipment I brought when trying to start a music career (you can do it all on computers now :( )
But I also have my own company that has good credit - so I use that :D
 
Julez said:
My personal credit is knackered due to lots of recording equipment I brought when trying to start a music career (you can do it all on computers now :( )
But I also have my own company that has good credit - so I use that :D
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Was it a long time ago?
After 7 years most of the credit history is no longer kept.
 
$5 Submissions said:
I tore up all my credit cards 3 years ago. No credit. So hopefully this boosted my credit score up. Also, paying off $85K in student loans should help a lot too.
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yep, it definitely helps. But don't pay it off too fast, stretch it out but keep the payments on time. You'll pay more in interest rates but you'll get the banks to think you're dependable.
 
stanley said:
yep, it definitely helps. But don't pay it off too fast, stretch it out but keep the payments on time. You'll pay more in interest rates but you'll get the banks to think you're dependable.
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I already paid off all debt. Credit cards, student loans, and my car note. Paid off in 2001-2002 period. Feels good being debt-free. Now all income is either reinvested in my business or funding new projects.
 
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