I've always heard that a cell phone can kill your credit, but not build it, is this really true?
203292
Ok, I don't think any of the other answers have a clue.\n\nCell phone companies pull your credit report to see whether or not you will have to put down a deposit.  They use yoru past credit to see how likely it is that you will pay your bill.  Techinically this inquiry counts as an inquiry on your credit report, but by itself will have no impact on your credit.\n\nSince a cell phone is not a credit account, it does not go on your credit report.  UNLESS you don't pay your bill on time or do not pay at all.  Then the company will put collections and other negative remarks on your credit.\n\nIt really won't help your credit at all because it doesn't go on your credit report unless you do something bad.\n\nBut as long as you pay your bill and never more than 30 days late, it will not effect your credit at all.
226832
It will help build a payment history.  Always be on time with your payments.  It's easier to destroy credit than fix it!!!  Then, start saving up and using cash!!!!  Credit cards are EVIL!!
154319
Yes, no credit is worse than bad credit.  If you have never created credit, it is harder to get credit.  You have no history in the system.  \n\nWith bad credit, you have a history, and the companies are willing to take a risk.\n\nDon't ask me why that is, but it's true.
203076
You may consider closing the accounts -- you will still have to pay the balance but this at least stops your phone calls. You can also work with the creditor--- in addition to closing the account, you may be able to get the interest and/or late payment/non-payment fees reduced. They generally won't do this if you do not close the account. Keep in mind--- after 2 months with no payments, they are going to increase your interest rate painfully, especially if you are a young person--- so you are going to want to dump those cards as soon as you can anyway!\n\nYou are really going to hurt your credit rating during this time, though, and you may not realize how important it is to have good credit yet.  It takes on average 7 years to rebuild credit from serious delinquency... a 100-point difference in your credit report may mean the difference between getting approved for a home loan or car note and getting denied... a 20-point difference may mean up to a half-percent or more on a mortgage rate. So if you have a reasonable minimum balance, it may be worth it to see if you can work even though you are working on your thesis. Not full time or even part time work--- just enough to be able to make your minimum payments. Because in the long run, it is going to cost you a LOT to miss them.\n\nAnd as a very LAST case suggestion--- and I mean only in the worst of circumstances because this is a very bad move--- take a cash advance from one of the credit cards, deposit the money in your bank account, and pay the minimum payments.  This is going to KILL you in interest and fees but it is WAY cheaper than having to pay 12% over prime on your next car note... just make sure to pay it off as soon as you can!
502719
I'm with fr_chuck, you can save the money (do not pay), and let it hurt your credit a bit. Otherwise you pay the price for a good credit rating and she keeps the car as a bonus. I am so sorry there are such users, liars and cheats in the world.
298424
NOT TRUE!  YOU NEED TO REGAIN YOUR CREDIT, BY BUYING A CAR AT A BUY HERE, PAY HERE. IT WILL HELP YOU RE-ESTABLISH YOUR CREDIT IN TIME, USUALLY A COUPLE YEARS. ALWAYS WHEN BANKRUPTCY HAS BEEN FILED, TECHNICOLY THEY CAN HOLD IT AGAINS YOU FOR 10 YRS.
545865
False. It takes time to build your credit score. If it were that easy, everybody would be doing it.
475377
As long as you pay the overdraft fees and get your account back to at least a 0 balance, no. It will destroy your credit if you don't pay it and they close the account and send you to collections. Not only will that hurt your credit, you will be reported to chexsystems, and it will be nearly impossible to get a regular account for 7 years.
126953
Your credit can be affected by just about anything, from Utility bills, cell bills.....all kinds of things.  Anytime you have something you pay on, monthly, bi-monthly, if it's paid late that company can report it to the credit agencies.  Also no credit can sometimes be just as bad as bad credit.  So have him do some research.  Did he pay his water, gas or electric bill late, order anything from a catalog and pay late or not at all......has he paid his cell bill late, get any speeding and/or parking tickets that weren't paid on time?  Even over drawing a checking or savings account can show up.
609513
no. there is absolutely no way that can damage your credit. In fact, I think you just discovered the one thing that CAN'T damage your credit. what you do is just normal consumer actions. everyone does it and other than making sure you're credited back your purchase amount, there's no way it can do any damage.
108374
Scams, most likely. I don't trust online too much, they say free and then u need a credit card for a $1.00 charge which they could continue to charge your account.\nAnywho, the old fashioned way, a job or the new way - go on a reality show, act a fool, get kicked off and the phone will start ringing off the hook. I feel like doing it myself.
97911
When I check someone's credit I take the amount of payments there are ( on a credit card this is one payment a month until the experation date) divided by how many payments made, minus late payments. So they are both right. If you pay it all off, at least keep the card active so that the amount of payments stays there. If you just pay off a big chunk that's okay too, but of course there will be interest accrued giving you more payments to make, and if made on time a better credit score.
69659
Cell phone insurance is never a good deal.  It's so bad, it's not even insurance.\nIn fact, the sellers don't even need to be licensed to sell it.\nThat alone should tell you to be wary.\nYou should always pay with a credit card, not a debit card.  That way you have a way to refuse the charge if they do something you feel rips you off.
92938
Having more credit cards does not really help in your credit score.  Paying off bills and other debts does.  As long as your history shows that you pay your bills, they'll see you as a good credit risk.  \n\nAny late payments or missed payments will lead to a higher interest loan/lease.\n\nGood Luck
153654
Heaven don't listen to all these so called experts.Go to creditease dot net  n They can truly help.Remember that a contract is only legal if it is executed legally.Click the link below for help
332233
Yes. This is a good tip (probaby the best use of 5 points on Yahoo! Answers I've seen yet!).\n\nThere are 3 credit bureaus. I'd recommend separating the 3 free credit reports over the year (rather than getting them all at once) to keep an eye on your credit. With so much identity theft out there, this is one great tool to try to stop it early if it happens to you.\n\nThanks!
16425
What you are saying has alot of truth in it.  It is hard at first.  but it will get better as long as the credit you do get is paid on time all the time.  \n\nNow that you have a car loan - pay it.  Pay it all the time every time.  after a little while it should show up (if they are legit)  If you did it through a small company they may not be telling the credit agencies... and then you will be back to square one.     \n\nI had that happen back about 13 years ago.  we got our first car loan and figured this would help our credit.  Well the wonderful owner of that place never sent in any info about us so it was never even recorded that we had that loan ever.... \n\nGood luck.  \n\nHere's some info.  Hope it will help you. \n\n\nDo you have a bank that you have any accounts in? if you do they may be willing to make you a small loan. Everyone has to start somewhere. (how can anyone ever get a loan if they didn't have credit? think about it... Everyone had to have a "first" loan - it's from that point that you will establish if you are trust/creditworthy or not) so don't blow it. Pay that loan when you do get it. \n\nTake it from me. I was young and foolish and thought what some people do. I racked up my cards and had the plan to pay them off slowly so that I could "build my credit" This is not what happend... What actually happend is I *** BUILT MY DEBT *** Don't attack your credit from this angle. Credit is not a matter of holding a balance. You will NOT get better marks or a higher credit score for holding a balance in your accounts. What you WILL get is more interest to way you down.\n\nIf you want to have great credit just remember not to be late on any bill - utiliies and mortgages included. Don't miss payments. Keep small balances if you must but try to pay them off 100% if you can. Don't live on borrowed money. Good rule of thumb... if you will not have enough money to pay your CC bill in full when the bill comes - you shouldn't be buying what ever it is you are looking at. Use your credit cards for their intended purpose. They are ment to be a tool. Kept in your wallet so that you don't have to carry around cash every where, and so that you can have an organized statement at the end of the month to see where you are spending your money. Pay it in full and after years of doing this it will gradually bring your credit score up and up. There is no FAST way to build credit. the most crucial factor in the equation is PASSING of TIME. As long as you are paying everthing by the due dates, with no misses You will be golden :) Time will keep ticking away, and your credit score will keep rising. (Keep your oldest cards open - even if you don't have huge balances on them - They still count towards TIME ) If you want to keep a steady payment history going from month to month I would use it sparingly and then pay it in full each month. \n\nCredit cards show on your report - they will either show that there is no balance or that there is a balance. So don't worry about them not reporting for several months if you don't have any outstanding debt. This is NOT a "ding" on your credit record.