i am 20 with no credit. i wish to start to build good credit wit a credit card. how long till it starts showing as good.
2006-11-08 14:51:32 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
you can get credit now. dept stores and bank you deal with.
word of caution don't get more than three credit cards..
credit even unused credit goes against you ..
more cards you got the more it reflects..
2006-11-08 14:55:56 · answer #1 · answered by cork 7 · 0⤊ 0⤋
First check your credit report (you are entitled to a free one per year) to make sure you're at the starting point you think you are. Then apply for an Orchard Bank Credit card and a capital one credit card. Make the payments consistently and only spend about 20% of your limit. In a few months you should see your score go up. I started off, in Feb, with a credit score of 400+-, and now it's almost 700. So Good Luck!
2006-11-08 14:59:40 · answer #2 · answered by TR 1 · 0⤊ 0⤋
As long as you make the minimum payments on time, good credit will reflect. It should do so after the first month, but if you are trying to build good credit inorder to buy something on credit (car, house, etc), then I'd let the timely payments go on for a few months so that creditor's can see that you are making at least the minimum payments on time each month. A tip: make more than the minimum payment.
2006-11-08 14:56:19 · answer #3 · answered by Jaybird 3 · 0⤊ 1⤋
approx. 1 to 2 yrs..They look for your consistent ability to pay your bills on time and not be late, and to pay your bills no later than the due date..NO EXCUSE credit is unforgiving..once you screw up it's there for at least 10 yrs..Almost any credit card, dept. store cards, bank credit like new/used car loan, will get you stated..For God's sake don't be foolish and go crazy..young people have tendancy to do that..Like buying gold chains, braclets, rings, etc etc..next thing you know this new found credit money is all screwed up and now you are screwed..Credit is for emergencies when you don't have the dough immediately, or making a big NECESSARY purchase like a car, house, plane ticket, hotel room that is imparative right now..Other than that it just something hanging around to give you access to money when you REALLY need it FOR SOMETHING IMPORTANT..get my drift..Good Luck to you..Get a good job so you can pay your bills and get credit..no job no credit and then it depends on how much you make and what you now owe..
2006-11-08 15:04:57 · answer #4 · answered by flashrtp 4 · 0⤊ 0⤋
That's not right
2016-07-28 00:38:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋