How deep in debt are you?

Just curious, I just put $700 on my best buy card when I bought a new computer, but despite that I have no debt. My credit is really limited and I'm trying to establish some credit so I don't have any troubles when I start looking at mortgages. Other than that I've had a cell phone bill for the past 2 months (parents paid it prior to that) And the cable bill was in my name for the past 2 years. The bank shut me down for a $1,500 loan the other day and I was kinda pissed, I can easily make payments and pay it off within the next 6 months, if not less. How long do you need to have a credit card before it improves your credit?

I pay the power bill, phone/DSL, and cell phone bill. I also have a credit card, that I pay on time everytime (that is key). You should do one of those free credit reports. I did one and it was well worth it, I qualified for a loan just recently when I was debating buying a new car, but then decided against it. It takes over a year to establish a good credit report, so be patient pay your bills in full and on time, and you will have good credit.

Don't ask. I had a bad ending to a relationship that left me in shambles.

Try a credit union to get credit. They give people chances. Maye get a credit card from them and try for a loan. Thats what i did.

I'm only 17 so I don't have credit

But dad does

my credit is fairly good for only being 19- I've got two credit cards, monthly cell phone payment, car insurance, gas, a checking account and savings account

i never use the credit card when I know i won't be able to pay it, and it's def. helped to build my credit

but i still do owe my mom 900 balloons for a certain JDM B18C that i'm going to have to finish paying her back for this weekend

BYE BYE SR20

pissrdoffdebt owns j00

Geez you guys are lucky. I have a unbeleivably high insurance payement. Something around 3000 a year, a new laptop, 3 credit cards, cell phone, 500 a month for living and rent, and a 3000 dollar loan while going to college full time and have a full time job. My life is so busy. But somehow i have weekends off . But yeah my life sucks money wise but it is all good. And insurance doesnt go towards your credit. And after all these bills i stil lhave money to spend... somehow. I wish i had my parents to help with my bills but they say i am old enough to live on my own i can pay my own bills. So i do well on my own. Good luck but like i said try that credit union for help.

on paper i have no debt. and good credit, im in debt to my mom for about 5000 though

as of today 68000 in debt but i got on hell of a nice piece of land so come spring i can build a house

College debts currently are $2600 which will be doubled next year. Parents pay half of my tuition and I cover the other half with 3% federal loans. They pay living expenses while I'm out of state.
I ower $1553 on my car still.
$126 on my Sears card for my TV
~$200 on my credit card for eBay stuff and concert tickets
$50 speeding ticket that needs to be paid
And insurance which is cheap. Until they find out about the speeding ticket.

only about 700 on the credit card, and 500 to the parents. so 1300... but come this spring, I'll be 180,000 in debt. houses suck.

I'm still about 8 grand in debt, bank loan and they were stupid enough to give a 17 yr old a credit card but I only owe like 550 on that. I owe my grandmother like 15k but she's never gonna get it all back. I got a decent job so it can all be paid back before next year but I'm going to keep the payments on the loan since I actually gain credit from that.

I'm still in more debt than all of you...


Student loans are a bitch.....

$30K's +

and they are dwindleing down....but not fast enough....

Plus pretty soon I'll be getting a house...and if the mortage is right...then more money goes for the student loans....when I get about half way to paying off...then I'll break down and buy a new car....and by that time...cars will be flying like in Back to the Future.....


But I did have a $1500 bill with the USAF....
A $12,000 DUI bill...
A blown up Credit card...$1500...
and all kinds of other shit that was floating around for years when I was out of the country.....

But for right now...it's only the Student loans that are left...everything has been cleared up, and takeing care of...now I just got to wait for my credit rateing to go up a little....... B)

i have like a 3300 dollar balance on my credit card...but thats it...I actually have a very very good credit rating...i did a credit report check and i think i had like a 749 out of 819 or something like that...and i'm only 21...

Utilities do nothing for your credit, they can only hurt it.

As far as establishing credit, the key is (in order)

1. Length of credit history (the longer the better)
2. pay on time every month.
3. show you can carry a small balance and make payments on time( no
   card company wants to see you pay off your debt every month, other
   than showing your you can pay it doesn't prove your finacially
   responsible)
4. more than one credit account in good standing, a few but not to many
5. if you have a card with a zero balance for more than 6moths close the
   account it ain't doing shit for you. It could lead to a creditor claiming your credit is
   over extended, yes you could have to much credit
6. check your credit report every year for inconsistencies and/or mistakes

So the best thing to do it is start kinda like you have, just work on paying off that best buys card now, don't , I'll repeat don't charge any moe on that card untill you have paid it off to the point were you wouldn't have a problem making payments if you lost your job.

Department stores and gas cards are the best place to start, they have the highest interest rates but you've got to start somewhere.

Also don't go nuts appling for every credit card offer you get, the more you try the more inquires you get from creditors on your credit report and that's bad as well it lowers your credit score. If you apply for something and get denied like you did for the $1,500 loan wait at least 3 months before pply for another loan or credit card.

The range of credit scores is from 350-850

That's about all I can remember from my experiences, as I have gone from a credit score of about 700, down to 540, back up to a 690 (took almost 5 years to recover my credit score) so don't fuck it up.

As far as a mortgage anything below a credit score or 680 is going to kill you.
a rating of 700 and up is considered perfect credit. If you're higher than that great but I'd say it'll top out at about 750ish, nobody has an 850 nobody. it's kinda like school no one ever gets an A+ in every subject.

Good luck.

I have 1200 in student loans this semester, then 1200 more the next, then the loan size increase. I will easily be 10-15k in debt when I get out of college, but it will be worth it.

no debt here
only use the credit card when i can pay it in full...

when you get a credit report it counts as someone checking your credit as if you've applied for a loan and subsequentally lowers your credit score...

the same goes for when you apply for a loan at numerous places, the more time they check your credit the lower your score gets cause they don't know whether you've recieved a loan or not...


the worst is the one stop loan websites...
submit your info and have banks compete for you... yea my ASS...
all those banks run credit reports... interest rate gets sky high

oh crap- I forget about college loans........ so i'm in debt more than most of you

35,000x4= $140,000