Those credit apps

[Dave012345678910]

I guess I can ask a question that isn't Android. There are apps that say they can help people get better credit for paying bills on time. Are they for real? Do they spy on people? How much can they raise it if they do work?

 

[olbriar]

I will readily admit to being old school and non trusting. I would not dream of trusting an app with any of my financial information. Credit ratings are based on one's credit history. If you are trying to bolster your credit score, you need to create a better history.

 

[AugieTN]

Here is what I know:

Paying your rent, water bill, electric bill, cable bill does nothing for your credit score. I was told when I was 30 that my credit score was -0- and I needed a cosigner to buy a truck. I never missed a rent, water bill, electric bill, cable bill, luckily I had cash to buy the truck.

Maybe I'm wrong, but the only way I have seen to increase a credit score is to get a few credit cards and then charge and pay off the credit cards.

To me this seems real close to extortion. If the only way to increase your credit score is by letting the banks make money off your credit card purchases.

There's a couple of apps that show your credit score. I have used Credit Karma to keep track of my credit score, but there are a few others. With Credit Karma my TransUnion & Equifax scores are listed

 

[Clementine_3]

My favorite site for banking in general is Nerdwallet, it's full of everything you'd need to decide about money, the link for credit building has good info and rates Chime as #1.
Carefully research them and decide what works for you.

 

[olbriar]

When I was just freshly out on my own, I rented from the retired banker of my town. He was likely the richest man in town. He told me that after considering the ease of using a credit card vs carrying cash when he traveled, he decided to apply for a card. He was denied for he had a zero credit rating. The man had never borrowed money in his life.
Borrowing money and always paying on time and closing the loan early is a great way to increase a credit score.

 

[Clementine_3]

If you already have a bank you could apply for a credit card through them.

And now comes the unsolicited mom advice I wish I'd better understood and followed in my younger days - always pay the amount due in full. The interest will kill you, it's designed to. It's how the banks make their money, and they make a lot. Cards that offer cash back can be very misleading. If you have a running balance all they do is reduce the interest by whatever percent but if you pay in full each month you can actually make money off of them. Just be careful out there...

 

[Dannydet]

I'll never trust one of those apps with my full information, just another one out there that can be breached and all of your financial info stolen...

 

[Kinnessa08]

Just look for reputable ones that prioritize data security. Typically, they offer tips and monitor payments. Results vary, but diligent use can lead to noticeable increases over time. Also u can read some info here 신용카드 현금화 . U got it!