Hello all! Not new to TBM but I am new to the FB group.Hello all! Not new to TBM but I am new to the FB group. Wanted some opinion/suggestions on what to do. Best way to raise my credit score? Here's the thing: I currently have no lines of credit or debt. I'm 25 and have never had a credit card or student loans. I've only had one car loan which I paid off in 2018. (how you ask? you can read below) My current mid to long term goals are to save for a down payment on a new car and a house (my sister will be driving in a few years so I plan on giving her my current car when that time comes). Thinking about these goals, I need a plan on the best way to raise my current score in the next 5 years to get the best rates and whatnot. My current score goes up a whopping 1 point every 2 months with no lines of credit. Do I get a credit card? Is there a better way/another alternative? If I do get a credit card, what should I be looking for in a card? I would go to my financial institution but I fear they will try to pressure me into theirs. Help! Thanks in advance! **Long story alert** My dad basically scared me about debt and credit. My step mother was the worst with money and I saw the turmoil she's caused throughout their marriage. When it came to college I was underprepared and did not know where I wanted to go or what I wanted to do. I was so scared of going away to college and either dropping out or just racking up debt on classes that weren't going towards a degree. I decided to stay home and go to community college and ended up doing exactly what I feared. I didn't know what I wanted and attended school on and off for SIX YEARS with no degree. I finally settled on a program and passed with flying colors and I LOVE my career now. I was able to pay for all my classes with a small scholarship and tax returns throughout those years. When I was 18 I totaled my car and through insurance money I ended up with a profit (it was worth more than we bought it for) but my dad talked me into getting a new car. He was kind enough to get the loan and put my name on it so I would be building credit and his credit score got us the best interest rate. My car was ALWAYS worth more than what I owed because I was able to put a large down payment due to the insurance money and my own savings, no need for gap insurance! I paid every single penny on that car 100% on time. But my dad warned me before we got the car that his credit was on the line too. One late payment would not only ruin my score but his too! He said the only way he's do it is if I pay for it myself and to let him know the second I couldn't make a payment or make it on time. And the same goes for credit cards. Never got one because I wouldn't have known the best way to use it. I'm now 25 living on my own with no debt and I have the best job ever with benefits you can't beat and a GUARANTEED retirement! If you made it this far thank you for reading! I've been dying to tell my story haha.
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