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Old 01-10-2006, 10:47 PM   #41
Din
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Quote:
Originally Posted by RACER X
i htought you owned a house?

yes, getting financed for a bike is harder then a car, and don't fall intoit the trap of financing a bike and getting liability only.

as for buiilding credit, start w/ smaller cards: target, gas cards. and it's gonna take a while to build it up enough to get a bike financed.

financing bike is for suckers. IMO
im a sucker.. 12%APR for 5 years for my bike. My brother got the loan for me under his name so hes prob dumb also. Oh well... im helpin him build his credit.

Ive lost one bike 5500$ no big deal. happens.
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Old 01-10-2006, 11:38 PM   #42
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my bike was 0 down, 2% interest, 10% off gear (free lid due to tryin to sell me a bike that had turned out to be already sold...see what happens when u dont update computers salemen) AND got the bike for 6-7 hundered under sticker :biggthump

Last edited by Knightrider; 01-11-2006 at 12:15 AM.
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Old 01-11-2006, 12:27 AM   #43
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Quote:
Originally Posted by hfa3g11
this is probably the worst advice ive ever heard. the topic of this thread was how do i build my credit. not how do i spend my money. :BangHead: how is he gonna build his credit if he pays verything in cash? and the type of loans that help out are called secured loans. for example: car, house..... like that. thats the kind of credit that will show the most responsibility. i know this cuz im a loan officer for one of the biggest companies in the world. and carbonr1 is definately right. it doesnt help to pay them off every month.
FOSHO THA BOi JOE MAN KNOW WHATS UP!!!
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Old 01-11-2006, 09:09 AM   #44
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Quote:
Originally Posted by Din
12% is ok. jsut buy cheap stuff things under liek 50$ and pay for it the same month. It helps.
DUDE, did you not read my post..

this will do NOTHING for you at all..
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Old 01-11-2006, 10:02 AM   #45
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most important thing to do like alot of people already said is pay your cards on time and dont just pay the min payments (once you get a card). dont get in over your head, its easy to just charge something cuz your thinking you can just pay $15 - $20 min payments. When companys start giving you $2000 + limits, the card can get charged up pretty easy/fast. Then it can go from one card to another, before you know it you have a few cards that are charged up, then your getting introuble. Try and get one major credit card and you should be good to go. Try capital one, they may start you off with like a $200 limit or so, but its a start and after a few months you can ask for a credit line increase.
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Old 01-11-2006, 11:55 AM   #46
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Quote:
Originally Posted by CarbonR1
DUDE, did you not read my post..

this will do NOTHING for you at all..
nope sorry didnt read. i guess im wrong im not fin expert. that has waht ive been doing over the years and it seemed to be working for me.

my younger brother had 2 credit cards was paying them monthly for about a year. I ask him to try to get a loan for a bike for me. He barely had his credit cards for a year and he got approved for a 5000$ loan so i can get my bike. I jsut had to come up with the rest. Before that he had no other big loans. So im not sure what happend here?? ppl say its hard to get bike loans...

Last edited by Din; 01-11-2006 at 11:57 AM.
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Old 01-11-2006, 04:55 PM   #47
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Quote:
Originally Posted by hfa3g11
this is probably the worst advice ive ever heard. the topic of this thread was how do i build my credit. not how do i spend my money. :BangHead: how is he gonna build his credit if he pays verything in cash? and the type of loans that help out are called secured loans. for example: car, house..... like that. thats the kind of credit that will show the most responsibility. i know this cuz im a loan officer for one of the biggest companies in the world. and carbonr1 is definately right. it doesnt help to pay them off every month.
who do you work for? my old lady is a loan officer/processor and works for a small mortgage company and has gotten offers from the other "big" places. she might be going to coutrywide but shes keeping her options open until she gets her brokers license in a year or two.
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Old 01-11-2006, 11:31 PM   #48
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I started off with a Wells Fargo student visa.....BUT....a little trick that most people don't know about is....

if you are cool with your parents...and assuming they already have good credit....ask them to put your name on the account. I'm not talking about just getting an extra card with your name on it, I mean your name on the actual account. Actually, don't even get a card...you'll just be tempted to spend money. Just tell your parents to put your name on the account...and that's it.

The theory is that you will assume the same credit score as your parents because it's all you have thus far. And yes, this is true and works.
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Old 01-11-2006, 11:36 PM   #49
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..my info quoted from the book I read...

"You have a few options in how to give your kid credit. If you have a good FICO score of at least 720, I recommend that while your child is young you simply add their name to all of your credit cards as an authorized user. Obviously you are not to give them your credit cards, or in most cases even let them know you have done this. But by doing so, your good FICO score will become theirs as well."
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Old 01-12-2006, 01:05 AM   #50
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Quote:
Originally Posted by arturo3rd
who do you work for? my old lady is a loan officer/processor and works for a small mortgage company and has gotten offers from the other "big" places. she might be going to coutrywide but shes keeping her options open until she gets her brokers license in a year or two.
work for HFC. used to be known as household finance corp. but when we merged with HSBC, its simply HFC with no meaning. we are also the same company as beneficial, but they are our sister company.
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Old 01-12-2006, 01:57 AM   #51
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rich guys with rich credit
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Old 01-12-2006, 02:15 AM   #52
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man credit, if u a G u buy straight cash!!!!

hahha ok im shutting up now.
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Old 01-12-2006, 04:28 AM   #53
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Quote:
Originally Posted by PETE
man credit, if u a G u buy straight cash!!!!

hahha ok im shutting up now.
BALLER.
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Old 01-12-2006, 12:28 PM   #54
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I look at credit every day, so here are my 2 cents..

There is revolving credit (credit cards) and installment credit (mortgage/car pmt.) Conn's is perhaps the easiest revolving card to get.

#1 DO NOT have over 40% balances on your revolving credit total-i.e. if you have a $10,000 limit, do not have a balance of more than $4,000.

#2 Inquiries only impact your overall score 10%. Payment history 30%, debt to income ratio (balances to income) 20%, proportion of balances to available credit 30%, and the other 10% is stupid bullshit.

#3 You are entitled to a FREE credit report from each of the three main bureaus once per year or when you are denied credit. Equifax (www.csccredit.com) Experian (www.experian.com) Transunion (www.transunion.com) Equifax is the most widely used.

#4 Utility bills or phone bills do not go on your credit unless you stiff them, so they do not help your score.

I believe most (special rate) bike financing is on a cc through HSBC.
Hope this helps.
If you need help or more info P.M. me.
Just my .02

Last edited by JJO; 01-12-2006 at 12:42 PM.
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Old 01-12-2006, 12:44 PM   #55
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Also, if you have any credit cards that you do not use, KEEP THEM OPEN.
Doing this leaves you with more available credit, thus raising your beacon score.
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Old 01-12-2006, 12:50 PM   #56
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sweet...
got approved for a 500.00 limit on gold visa @ my credit union.... im thinking about taking out all the 500, and putting into my savings.... then paying like double the minumum till paid off.... i dont care about interest rate... im pretty much paying to biuld my credit....
also applied for a "new to credit" credit card w/ capital-one...

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