Posted by: Mr. August May 24, 2007
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Bank of America, I heard issues Credit Cards without SSN. I heard this on the news some time ago. Anyways, here is how you build your credit.
1. Get a secure loan. This is the best way to build credit. This could be secure Credit Card (like mentioned above in some posts), Car Loan, etc. DO NOT MISS ANY PAYMENTS or even be one day late on any secure loans as they are reported to the credit reporting agencies right away.
2. Keep your credit cards under 5 and make sure the balances are below 50% on all of them. Make a little bit more than the minimum payment each month, on time and again do not miss any payments although only payments late than 30 days are reported to credit agencies as normal credit cards are consider unsecured loans.
3. Keep you cards open as long as possible. Do not open and close accounts regularly. Closing accounts/ not keeping them open for a longer period of time hurts your credit.
If you need you can get a lot more information at www.bankrate.com
1. Get a secure loan. This is the best way to build credit. This could be secure Credit Card (like mentioned above in some posts), Car Loan, etc. DO NOT MISS ANY PAYMENTS or even be one day late on any secure loans as they are reported to the credit reporting agencies right away.
2. Keep your credit cards under 5 and make sure the balances are below 50% on all of them. Make a little bit more than the minimum payment each month, on time and again do not miss any payments although only payments late than 30 days are reported to credit agencies as normal credit cards are consider unsecured loans.
3. Keep you cards open as long as possible. Do not open and close accounts regularly. Closing accounts/ not keeping them open for a longer period of time hurts your credit.
If you need you can get a lot more information at www.bankrate.com