omg cell phone company shopping fucks up me credit!

[micah]

its impossible to have a -70 credit score. the scale goes from 350 to 800

having your credit pulled does NOT lower your score immediatly. youd have to have your credit checked like 20 times per quarter for it to affect your score in even single digits.

what it does do is just shows up as having been pulled. if youve ever applied for credit and been denied it will tell you the reasons on your credit report.
it will say youve had to many recent inquiries on your account.
lots of places dont even give a shit about things like that.

there are lots of ways to build your credit, you could always get a secure credit card. they are kinda gay and i never did one, but its an option. what you have to do is send in a deposit, say 400 bucks. then your credit limit is the amount of your deposit. some cards will refund your deposit after being in positive standing after a year.

you could always try getting financed in a store for something. very first thing i ever got on credit was some furniture at badcock.
in store credit cards are also always on option, just not any stores i shop at offer them.
bad or insufficient credit shouldnt be stopping you from getting a cellphone, most places ive looked at just require a higher deposit depending on what your score is. i never payed one for mine, btu my girlfriend had to pay a 500 dollar deposit for hers, which she got back a year later.


i used to work in the loan business, trust me- inquiries by themselves do not lower your credit score. they just show up as inquiries and too many of them may throw a flag for some potential lenders.

also, if youve been denied for credit you can always get a free credit report within 30 days.

or once a year you can get a free credit report from freecreditreport.com

 

[K2e2vin]

So the Bank of America one is wrong? on the 350-700 scale it says 0(the -70 was on a 0-100 scale, which is crazy low...it shows that I had only 7 total inquiries)

BTW, I already have a cell phone service. I had to do a $125 deposit(Nextel/Sprint was $150).

 

[micah]

lenders are not allowed to give out your actual credit score. not any lending company ive ever worked for or dealt with anyway. i dont know what the bank of america gave you, but i assure you it wasnt your credit score.

http://www.freecreditreport.com/

go there and get a copy of your report.

 

[Bob Vila]

In regards to inquiries:

30 days are allowed to "Group" inquiries to lessen the effect on the credit score. You can process umpteen inquiries in this time and it won't effect your score drastically as if you were to do one now and another one 2 months from now. This is extrememly beneficial when purchasing a car or home as your score is checked multiple times...

Example: Normally at the dealership they'll do a soft inquiry to get you a ballpark monthly figure. If purchasing, the dealership will send the application to the financing institituion into which they'll go through their underwriting procedures and do another inquiry to fully approve the purchaser.

 

[BigJ]

I took out a small federal loan for school and voila I had credit. I make an interest only payment every month while in school, and my credit increased.

I applied for a phone and didn't have to put anything down. After I had the phone for 6 months, I was able to get a CC. I now have a student credit card at BankOfAmerica at 1k limit. Visa Platinum. And I'm eligible for a few lines of credit around the bend for future purchases(HDTV and X360).

I plan on getting another line of credit soon towards a car, but I already have cash to pay it off with down the road, as the same with the other purchases.

If yo ucan't get a credit card at bank of america, as in regular. I'd suggest doing the secured credit card.

All my buddies did this in high school when they turned 18, and it worked for every single one of them. When you go in, apply for like a student one, they will deny you. But they will give you a follow up offer for a "secured" credit card where you give them a 100 deposit, and you get a 300-500 dollar limit. After the first 6 months, they will then offer you a regular credit card, such as a visa gold or something.


I too was in your same boat last year, and now I have credit. It isn't something to be "proud" of as it increases your chance to go into debt, but will open doors for you in the future when it comes to major financing, such as a house, or major car, or company loans, etc.

 

[VTECin5th]

I had no credit, and i signed up for a CapitalOne credit card for someone on HondaSwap's referral thingie.
They denied me once, so i applied again and got a Platinum card@21% ... i used it once, i'm going to pay it off and break it.

 

[YouKnowWhoIBee]

i would advise you to go to a credit union and get a credit card like i did. I still have it, a 500 dollar limit at 8% interest. Also credit scores vary... expierian i think is consumer, and one for auto and possble the 3rd is house not sure.

 

[micah]

they are all the same, just not all companies will report to all 3. your scores will vary, but its not because they are purposefully split up for car/house/whatever.

 

[YouKnowWhoIBee]

expierian, transunion and equifax are the three credit agencies. i thought that expierian was the "credit" portion. Transunion was "housing" abd equifax was "automobile" . Not to say fully but that is what they check for when running your credit.

 

[micah]

when i worked at sallie mae (school loans) in the loan origination department, we pulled through equifax because thats who sallie mae worked with. we COULD pull through transunion at customers request, but we didnt touch experian