What are some ways to improve credit without applying for a credit card?

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This topic contains 8 replies, has 4 voices, and was last updated by  Anonymous 8 years, 4 months ago.

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  • #418549


    Not necessarily.

    Usually most loans require only 2 years of W-2 statements.

  • #418550


    stated income loans are far and few between. would require if you are s/e, have several properties (sch E) or if the automated system used required it (DU).

    expert realtor is correct for salaried/hourly employees or retired. 🙂

  • #418551


    If you are salaried, you only need to show W-2. If you have other forms of income, such as self-employment, rent, etc., then you need to supply tax returns.

    This is required for a standard, documented loan. There are few stated income loan programs now. Too many people inflated their income in order to qualify. That is one of the reasons we have the mortgage melt down.

  • #418552


    If your self employeed, absolutely. If not, usually recent paystubs and w-2’s will work

  • #418553


    Some bank will required for you to show that but some don’t. You can go on to this web site and see if you can qualify for loan. When I applied for mine. I only have two how one year of W2

  • #200691


    My credit is poor and it has been at a stand still for at least 4 yrs now. I had 2 accounts that went bad when my financial situation changed so they were cancelled and now I do not have open credit accounts and cannot qualify for new ones! What can I do? I know about secured cards and that is something I am looking into but what else can I do? Do cell phone companies report to credit bureaus? Any ideas????
    I meant do cell phone companies report your payment history to the credit bureaus…. I knew they used them to decide if they are going to give you service.

  • #258257


    you need to visit annualcreditreport.com and run all 3 of your credit reports (for free).
    You are allowed by federal law to run your credit report once a year for free.
    once you have your credit reports, start rectifying the negative credit items…if that means making payments to people…do it. if there are items on the credit reports that do not belong to you, you can submit statments to tha affect.

    you’ll need to pay off teh credit cards…and YES cell phone companies report your late or non payments.

    so…good luck

  • #258417


    If you have accounts in colllections the easiest way to clean your credit is to pay them off…there are some great resources in my source that talk about how to negotiate your credit rating when negotiating a payoff…

    Also, keep your cards you do have at less than 50% of available credit…make sure the payments are on time every month (the day your cards go over 50% of available credit you credit takes a big hit!).

  • #258587


    You bet Cell phone & all companies use credit bureaus.
    Even you employer knows your score, so it affects jobs.
    What about rent & power utilities, have you paid them?
    Have you overdrawn a bank account or misused an ATM?
    Try getting a store account, charge a purchase, & pay for it.
    Only buy what you need, & always pay promptly.

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