How to Build Credit Once You Have A SSN

[pswa83 302]

so, it got me thinking when i was looking at cars and a few other things, that how i am suppose to buy a car with not a lot of money in the back and no credit. so i googled "how to build credit fast". this article came up and i found it very useful on how to do so.

it's pretty easy to understand. there are no extreme measures that anyone needs to take. just use common sense.

i figure once i have a job, i can start building credit using the steps that this person has outlined.

happy reading. hope its helpful

http://rethinkriches.hubpages.com/hub/How-to-Build-Your-Credit-Score-from-0-to-700-in-6-Months

[EnJR 39]

I was thinking about this too, seems like a good article but there's much more to look for so we don't make mistakes!

[itzel 336]

Its very simple, just buy what you can pay, pay your montly dues on time, if youre late, thats points away from you and if buy a big expense, try and put down as much money as possible and hurry up and pay it...

[Rawf 336]

I've been doing that for the past 2 or 3 months with a credit card. I'm not sure how long it takes, but if you stay in good standards for a year I heard your credit score can be pretty high.

[amor 112]

Thanks for that link! I am doing exactly what Itzel mentioned... basically, my weekly expenses will be put on the card but I will keep the money I budgeted for those said expenses in my account and just schedule automatic payments to the credit card. I'm going to try to charge everything I would normally pay for to the credit card and pay it off. The only tough temptations will be having a CC during the holidays!!

[JoseG 383]

I've read a lot that you should try to spend only 30% or lower of your credit card limit to keep a good credit.

It might not be such a good idea to put all of your expenses on your credit card because the agencies might think that you are dependent on the credit card even if you pay it off all at the end of the month. If you pay off all of your bills with a credit card, the credit card issuer will report to the credit agencies how much you owe, and that you are making your payments on time, it doesn't show that you are paying it off fully.

[always_learner 8]

With the ITIN (Individual Taxpayer Identification Number) you are able to obtain a credit card (and I believe build credit). My question would be how does your current credit score transition to when you obtain your social security number? Like, do you just start over? Or is there some sort of transfer?

Also, maybe off topic, but once obtaining your social security number, should one go to the bank and replace the ITIN with the newly obtained social security number? For that matter, should one go to other places, such as ones college/university and register his/her social security? Do we just say that we obtained our number recently through USCIS and would like to register it? Going along with that, how about if one uses a fake social security number at their current job. Should they just keep things as is?

One last thing, how should we handle filing taxes? Do we go about it like one normally would (by "normally" I mean like if we had legal status)? This just came to mind because there's a lingering thought in the back of my mind about how maybe in the future persons who qualified for DACA may be 'evaluated' based on how well they utilized their two year EAD.

Any answers/thoughts would be appreciated. Thanks.

[amor 112]

I've read a lot that you should try to spend only 30% or lower of your credit card limit to keep a good credit.

It might not be such a good idea to put all of your expenses on your credit card because the agencies might think that you are dependent on the credit card even if you pay it off all at the end of the month. If you pay off all of your bills with a credit card, the credit card issuer will report to the credit agencies how much you owe, and that you are making your payments on time, it doesn't show that you are paying it off fully.

Oh yeah yeah! My expenses are no where near 30% of most credit cards LOL Yes, if you max the card out, it will count against you.

[Sinae 21]

With the ITIN (Individual Taxpayer Identification Number) you are able to obtain a credit card (and I believe build credit). My question would be how does your current credit score transition to when you obtain your social security number? Like, do you just start over? Or is there some sort of transfer?

Also, maybe off topic, but once obtaining your social security number, should one go to the bank and replace the ITIN with the newly obtained social security number? For that matter, should one go to other places, such as ones college/university and register his/her social security? Do we just say that we obtained our number recently through USCIS and would like to register it? Going along with that, how about if one uses a fake social security number at their current job. Should they just keep things as is?

One last thing, how should we handle filing taxes? Do we go about it like one normally would (by "normally" I mean like if we had legal status)? This just came to mind because there's a lingering thought in the back of my mind about how maybe in the future persons who qualified for DACA may be 'evaluated' based on how well they utilized their two year EAD.

Any answers/thoughts would be appreciated. Thanks.

I'm going to change my itin into ssn because, I'm sure you will be able to access your personal info. of your bank account to see yours, both of my bank account says the number I provided are itin. You file your tax like tax lol the IRS is operated the same way no matter what. All they care is collecting the tax. The IRS. Isn't connected directly with the government backup info. like how ICE, FBI, USCIS, and ect. shared the info.