BLACK Amex yea that's a good starter

Trying to establish credit

Only use a CC for what you can pay cash for...

IE:

Dinner
Small Repair Bills
Gas
Nothing Big.. Sound Systems/Upgrades to boat or car.... Save and pay cash for that....


NEVER EVER have more than 2 CC Only one Visa or MC never have an outstanding balance more than 10% of the total available credit.

Apply for an American Express Green Card... DO NOT MISS A PAYMENT or they will hunt you down like a dog and kill you!..

Don't rent buy a condo or house.... Never take an equity loan.



Once you F up your score you have a ton of work to do to get it back.

I was told that paying you balance off in full each month does not build revolving credit.

Fightclub - great advice

I have a friend that lives off his equity line. I don't really understand it all, but I know eventually you have to pay that money back, not a way I'd like to live, but to each his own.

you don't apply son...your invited

Yep, and have to spend 150k a year....

If your talking about FICO or beacon scores your time on job and time at residence also affect your score. Job because potenitally your employment situation is unstable and residence because may get hard to find (ie collect on). Any recent moves or job changes will bring your score down, not much normally, but it will effect it. Also, car loans, paid on time, are a good way to build credit.

Paying the minimum on any debt is scary advice. Especially on a credit card. But you do have to use credit to build your credit. But you must use the credit WISELY!!!!!

If you are having trouble getting a credit card or personal loan, try a credit union. They are small, local and personal. They focus on building relationships and don't just look at credit scores. They will likely require that you open a savings or checking account with them.