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Old 10-08-2009, 04:13 PM
trent trent is offline
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Join Date: Jun 2008
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Quote:
Originally Posted by bigeddy15 View Post
I recently turned 19 and was approved for a $20,000 dollar line of credit. I dont actually need it for anything. I simply borrow 10,00 dollars the odd weekend and then put it back in my account to show i have good spending habbits. This will slowly stack up my credit rating. The interst is accumulated yearly also so it might cost me $10 dollars at the most to do. Hope that gives ya some inspiration!
I'm not sure how exactly are FICO scores calculated, but using half of all your available credit, when you don't actually need it might hurt your credit score. If I were to do something similar I would borrow no more than 30% of the credit line at any given time.
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