Moving into an apartment as a trader...

Bank of America and US bank have excellent secured card programs for those wanting to establish or re-establish credit.

Expect to pay from 18-36 dollars per year annual fee for one year.

You do not need to let the balance revolve and you can pay your balance that you use in full at the end of each month to avoid interest charges.

In some isolated instances you may be able to find a credit union where you can open up a checking account and get a small overdraft protection/line of credit.

Go buy a car at one of those scheister places that give anybody credit with a job....

Find one of those finance companies like Wells Fargo, Beneficial, Household Finace or American General to see if you can get a small loan secured with personal property, if your state allows that.

Google Orchard Bank...

Michael B.

Folks.... whats wrong with being 19 years old? I have learned a great deal from JM...
 
JM..

Be carefull when applying for credit...do not exceed six places in six months...or you will damage your credit rating with too many inquiries.

Michael B.
 
You don't really need an apartment when trading,
The recurring rent costs will kill you mentally,
Rent 1 room / roomate at most.


In business you want to keep all recurring expenses as low as possible.
For something as unstable as trading, you definately don't want anything you can't cover for sure, it will kill your mindset.


The game is waiting for the right moment, Waiting = Does not make money.

When it doesn't make you money, you will stop waiting, and you will lose money.
 
Just curious were are you moving to again what city and state, b/c the area will have to do alot with the cost of living. If you are moving ta LA, San Francisco, NYC, Boston, etc. the prices of both food, entertainment and actual housing costs will be tremendously high. On the other hand if you move to North Dakota, Wyoming, hicksville or redneckville, and there is no people in a radius of 20 miles and the only person you can %$#& is your sister or a dog the cost of living is going to much less, plus you can grow your own food, and the only entertainment in that area is going to be church and cow tipping, I think the prices are going to be much less. Think of simple economics, BIG CITY=BIG demand=big prices, Hickville=small demand=low prices.

Best of luck with your apartment, and your future career.
 
IMO you need a real job at least part time to establish credit be prepared to pay the highest rates over 20% put these cards in your drawer and forget about it. In about 6 months apply for another one but do not use them. This process could take several years, and it is very important to keep your balance to credit limit ratio around 90% available credit, just try not to use them at all is my recomdation. After several years you will be on your way to establishing credit.


After 20 years of good credit management your score will look like this.
 

Attachments

Nice score...:)

Quote from myminitrading:

IMO you need a real job at least part time to establish credit be prepared to pay the highest rates over 20% put these cards in your drawer and forget about it. In about 6 months apply for another one but do not use them. This process could take several years, and it is very important to keep your balance to credit limit ratio around 90% available credit, just try not to use them at all is my recomdation. After several years you will be on your way to establishing credit.


After 20 years of good credit management your score will look like this.
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Quote from wee man:

Why, you ungratefull little nob-end. I give you some really good advice and all you do is insult me!

Listen, stop tellin everybody your fucking life story and get out and look for yourself, can you take that in? or are you just not hungry enough, or maybe you get comfort here...?
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that is how it goes with him. i gave him the capital one secured card idea. did the scummer thank me. of course not. he thinks it was his idea.
forget it . he got a chip on his shoulder .
laugh it off and offer the scummer nothing.
 
Quote from myminitrading:

This process could take several years, and it is very important to keep your balance to credit limit ratio around 90% available credit, just try not to use them at all is my recomdation.
More...

NOT USING credit cards is NOT HELPFUL for establishing credit.

Buy a pack of gum or a pair of socks each and every month. And pay the bill in full, on time, when it arrives. Usage creates payment history. Payment history is as important as limit/available percentage.

The fact someone gives you credit means nothing if you don't use it. The answer to... Did we receive X (amount) on or before Z (date)? is the holy grail for creditors. Also, my suggestion of paying in full means nothing by itself, (did we receive x on or before z?) but it does keep the limit/available ratio in check.

Good luck,
Osorico
 
Quote from osorico:

NOT USING credit cards is NOT HELPFUL for establishing credit.

Buy a pack of gum or a pair of socks each and every month. And pay the bill in full, on time, when it arrives. Usage creates payment history. Payment history is as important as limit/available percentage.

The fact someone gives you credit means nothing if you don't use it. The answer to... Did we receive X on or before Z? is the holy grail for creditors. Also, my suggestion of paying in full means nothing by itself, (did we receive x on or before z?) but it does keep the limit/available ratio in check.

Good luck,
Osorico
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You have no idea what your talking about pal.
 
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