Moving into an apartment as a trader...

Quote from Pekelo:

Geee.... From now on one doesn't even need to be a good trader to be a Swinging Big Dick, a high credit score is sufficient??

Of course Osorico was right, and you need to use CCs and any other kind of monthly payments (insurance, rent, big item purchases,etc.) to build a good credit score.

By the way just because you have a high score that doesn't mean you know what builds a high credit score, it simply means that you have been paying a few CCs on time for an extended period of time....
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I am 44 have owned three homes 13 cars have had 6 unsecured installment loans, my credit file is four feet long with over 20 years of history.

If you think you can get a high score from paying a few credit cards on time your as dumb as the rest of the clowns posting here.
 
Quote from Pekelo:

Geee.... From now on one doesn't even need to be a good trader to be a Swinging Big Dick, a high credit score is sufficient??

Of course Osorico was right, and you need to use CCs and any other kind of monthly payments (insurance, rent, big item purchases,etc.) to build a good credit score.

By the way just because you have a high score that doesn't mean you know what builds a high credit score, it simply means that you have been paying a few CCs on time for an extended period of time....
More...

If you want to see my trading go to my journal, I post my daily account P/L their.
 
Quote from myminitrading:

I am 44 have owned three homes 13 cars have had 6 unsecured installment loans, my credit file is four feet long with over 20 years of history.

If you think you can get a high score from paying a few credit cards on time your as dumb as the rest of the clowns posting here.
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Actually, I know for a fact that if you have $6,000 in credit, max it out, pay it off over six months or so, you will be given more credit. Do the same thing again and you're on your way to $100,000 in credit....this I know from experience....sorry to burst your bubble myminitrading
 
Quote from JMowery1987:

Rent a place, in an apartment.

I'm 19, c'mon, you can call me an idiot all you want, I'm looking for help. I unfortunately lost my father when i was younger and can't ask him these questions, and he would have known, since he was a tax return specialist... but I sadly do not have him to ask these questions, and my mother... well, would rather not go there. So have to ask someone about this stuff.

Any books or resources on becoming independent and such? I've been planning for a long time for moving out, but just have to ask questions before I up and move.

So if I want to pay for a 12 month lease in advance, since I have no credit, they would reject me?
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hey dude, i'll help you.

the answer is, it depends on where you live and your specific location. you'd have a better chance of being able to do it if you rent from a local person or small owner as opposed to a larger apartment complex which is corporate run. if you can pay for a year in advance, you will almost certainly find someone willing to take your money. say you're self-employed so they don't ask for employer references. try to gather some folks to vouche for you in advance - relatives, friends, anyone in position of power? call or go around to various places. if you go there in person, dress well. can also rent a house from a local owner - i know it's not really what you were looking for, but a small house might not be a bad way to go.

good luck in your endeavors. i'm sure you'll find a willing landlord.

one other thing: although you think you have no credit, let them check it anyway. just warn them up front regarding lack of credit due to self-employment and no credit cards. another thing for the future: may want to consider getting a credit card. just make sure you keep it paid off every month and don't run up a bill.

good luck again. :)
 
Quote from princessa:

hey dude, i'll help you.

the answer is, it depends on where you live and your specific location. you'd have a better chance of being able to do it if you rent from a local person or small owner as opposed to a larger apartment complex which is corporate run. if you can pay for a year in advance, you will almost certainly find someone willing to take your money. say you're self-employed so they don't ask for employer references. try to gather some folks to vouche for you in advance - relatives, friends, anyone in position of power? call or go around to various places. if you go there in person, dress well. can also rent a house from a local owner - i know it's not really what you were looking for, but a small house might not be a bad way to go.

good luck in your endeavors. i'm sure you'll find a willing landlord.

one other thing: although you think you have no credit, let them check it anyway. just warn them up front regarding lack of credit due to self-employment and no credit cards. another thing for the future: may want to consider getting a credit card. just make sure you keep it paid off every month and don't run up a bill.

good luck again. :)
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Appreciate it, already working on the credit card, will build up credit and use it ..... just to use it to build up credit. I never really wanted to use a credit card, I just use my debit/checking card for purchases, but I guess I can charge some things and pay them off instead.

My sister and her husband are moving to a new house.

I might be able to pay them rent about 400 a month to live in a room and stuff..... not sure yet, I went with them to check out houses. It isn't total independence, but I'd rather be away from my mom and step-dad at all costs, I just feel it would be better for me to be able to focus on trading and life. Plus my sister and her husband understand my trading since her husband owns a business himself, so him and I get along as well.

While I'm doing that, I could focus on my trading, and then plan to move out into my own apartment.

Good stuff though. Will get a reply from MBNA about the credit card. Hopefully that works out, if not, just going to do a secure credit card then.


Appreciate the help.:)


One more question:
The credit card I applied for said no APR for the first year.

Does that have an effect on my building credit?

Hopefully not.


Again, appreciate everything.
 
Quote from JMowery1987:

Appreciate it, already working on the credit card, will build up credit and use it ..... just to use it to build up credit. I never really wanted to use a credit card, I just use my debit/checking card for purchases, but I guess I can charge some things and pay them off instead.

My sister and her husband are moving to a new house.

I might be able to pay them rent about 400 a month to live in a room and stuff..... not sure yet, I went with them to check out houses. It isn't total independence, but I'd rather be away from my mom and step-dad at all costs, I just feel it would be better for me to be able to focus on trading and life. Plus my sister and her husband understand my trading since her husband owns a business himself, so him and I get along as well.

While I'm doing that, I could focus on my trading, and then plan to move out into my own apartment.

Good stuff though. Will get a reply from MBNA about the credit card. Hopefully that works out, if not, just going to do a secure credit card then.


Appreciate the help.:)


One more question:
The credit card I applied for said no APR for the first year.

Does that have an effect on my building credit?

Hopefully not.


Again, appreciate everything.
More...


the no apr shouldn't have any negative effect on your building a credit rating at all. the companies are looking for a pattern of paying on time, so as long as you do that, you should be fine.

i think the idea of moving in with sis sounds grand. and 400/mo would be less risky than 800/mo and on your own. also, would help you to save more. hopefully, you get along well with sis. then the company would be nice too, since trading can be a very solitary pursuit. if it were me in your situation, i would move in with sibling in a heartbeat, ASSUMING that you get along well with her, consider her a friend and someone whose living style would correlate well with yours.

i'm glad you finally got some positive, helpful feedback on this thread.
 
Quote from JMowery1987:

Appreciate it, already working on the credit card, will build up credit and use it ..... just to use it to build up credit. I never really wanted to use a credit card, I just use my debit/checking card for purchases, but I guess I can charge some things and pay them off instead.

My sister and her husband are moving to a new house.

I might be able to pay them rent about 400 a month to live in a room and stuff..... not sure yet, I went with them to check out houses. It isn't total independence, but I'd rather be away from my mom and step-dad at all costs, I just feel it would be better for me to be able to focus on trading and life. Plus my sister and her husband understand my trading since her husband owns a business himself, so him and I get along as well.

While I'm doing that, I could focus on my trading, and then plan to move out into my own apartment.

Good stuff though. Will get a reply from MBNA about the credit card. Hopefully that works out, if not, just going to do a secure credit card then.


Appreciate the help.:)


One more question:
The credit card I applied for said no APR for the first year.

Does that have an effect on my building credit?

Hopefully not.


Again, appreciate everything.
More...


Doubt you will get an MBNA card they require excellent credit, better of trying Providian/Capitalone/OrchadBank they take people with bad to no credit.
 
Quote from Chagi:

Go to your bank, borrow $1,000 from them, invest the funds with them in a GIC that secures the loan. Zero risk for the bank (you can't touch the GIC until the loan is paid off), and it's a way to get your credit history started.
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This a good idea for the credit part but it takes a while to establish the report. In the mean time go get a regular job (nothing fancy) that would cover the rent. Just something to prove you are working until you get the apartment.

On another note, I know in Texas it is hard to get an apartment until you are 21.

Come on guys, this is a young man finding his way alone. Give help, don't run him down.

Hope this helps:cool

4re
 
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