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Young Adult Credit Building Advice

  • 28-10-2012 4:53pm
    #1
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭


    Long time lurker looking for advice on building up her credit score! So basically no cc no overdrafts loans etc ever, apart from a bill pay phone, does that even count? Has anyone any advice it would be appreciated very much ty!!xx


Comments

  • #2
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭AgentOraiste


    Bump??


  • #3
    Aint Eazy Being Cheezy
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭Aint Eazy Being Cheezy


    Are you working? If you have wages being paid into your account on a regular basis you should be able to borrow an amount based on those


  • #4
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭AgentOraiste


    Johnny Electricity wrote: »
    Are you working? If you have wages being paid into your account on a regular basis you should be able to borrow an amount based on those

    No im in college ya see, getting a grant but thats it, i was more concerned with building up a credit record


  • #5
    Aint Eazy Being Cheezy
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭Aint Eazy Being Cheezy


    AgentOraiste wrote: »

    No im in college ya see, getting a grant but thats it, i was more concerned with building up a credit record

    Open up a credit union account. Set up a standing order from your bank into your credit union, even just €5/10 a week. This will give you access to credit as well as building up a credit score assuming you always have enough in your bank acc to meet the payments


  • #6
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭AgentOraiste


    Johnny Electricity wrote: »
    Open up a credit union account. Set up a standing order from your bank into your credit union, even just €5/10 a week. This will give you access to credit as well as building up a credit score assuming you always have enough in your bank acc to meet the payments

    I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card? :confused:


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  • #7
    Aint Eazy Being Cheezy
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭Aint Eazy Being Cheezy


    AgentOraiste wrote: »

    I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card? :confused:

    Sorry, I got the impression you were planning on applying for credit, ie a loan. Credit union would have been your best option.

    Sorry I can't be more helpful :o


  • #8
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭AgentOraiste


    Johnny Electricity wrote: »
    Sorry, I got the impression you were planning on applying for credit, ie a loan. Credit union would have been your best option.

    Sorry I can't be more helpful :O

    No probs ty


  • #9
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    AgentOraiste wrote: »

    I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card? :confused:
    We don't have credit scores here, that's an American thing. We have credit records which show if you have defaulted on the payments. Banks will look at your earnings, and your capacity to repay. Having a consistent savings record will help this. It's very good advice to open a credit union account.


  • #10
    AgentOraiste
    Banned (with Prison Access) Posts: 45 ✭AgentOraiste


    StillWaters wrote: »
    We don't have credit scores here, that's an American thing. We have credit records which show if you have defaulted on the payments. Banks will look at your earnings, and your capacity to repay. Having a consistent savings record will help this. It's very good advice to open a credit union account.

    I meant to say credit record :D so does it not count that you are able to pay your bills consistently no??


  • #11
    jhegarty
    Registered Users, Registered Users 2 Posts: 6,441 ✭✭✭jhegarty


    AgentOraiste wrote: »
    I meant to say credit record :D so does it not count that you are able to pay your bills consistently no??

    No , just loans, overdrafts and credit cards.

    Any they only stay on record for 5 years.


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