How to Build my Credit from zero to +++. I am "Ghost" , Help!

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By Kari Revak
User-Submitted Article

Article Rating: (14 Ratings)

You are APPROVED!

"GHOST", is just simply an individual with a 0 credit score. I personally struggle between letting people know what is better in order to get Approved. Being a "Ghost" or have 2 or 3 collection accounts in their credit that leads into a low credit score. I was there 3 years ago. I was a 0. And this is what I did.

Difficulty: Easy

Instructions

Step 1

Ask your best friend, a relative, to add you in their credit card as a user. Do not expect to actually use the card. Remember it is just a favor, please do not forget to pay the fee for adding you as a user. If paid back on time and no payment was missed, expect an improve on your credit score.
Step 2

Allow some time to apply for a credit card (this one in your name only). What I did is apply for a credit card that is offer in a local gas station. They are very easy to get, however the limit will be low. But at least you now have a credit card :)
Step 3

Go to your bank and ask for a loan. Its better to ask for a small loan. If you bank with them for a long time, they will be glad to do it. Be sure at least to have a score in your credit.

Tips & Warnings

Be Patient. Credit does not jump from 0 to 850 in one month. Allow some months for your credit to improve.
Do not over limit your credit cards. If you only have a limit of $300, do not use $299. It is better if you only manage to keep you credit card around $150.
Do not pay your credit card in full.You will have to pay some interest. If your minimum payment is $20.00 ; go ahead and pay $45.00.
I strongly suggest to monitor your credit. Visit www.freecreditreport.com for a free copy of yours.
Do not worry. If you paid everything on time. If you do not miss a payment. In as low as 9 to 12 months your credit will be 700 or +. You will soon be able to get a car loan on a very low interest rate.
Please do not answer to all of the mail that you get : CONGRATULATIONS YOU ARE PRE-APPROVED. It is not good for your credit to have 15 credit cards.