Need help Building Credit from Scratch, Does it Matter What you Buy & How Expensive it is?

Question

im getting my first credit card, and my question is, should i buy a lot of things to build credit faster? or just say, one item per month/billing cycle.

also, does it matter if the purchase i make is a piece of gum, or a television? what difference does it make? do they care?

thanks in advance

Answer 1

It doesn't need to be very expensive, but often stores will have a minimum purchase you must make to use a credit card, because they have fees they must pay to process the credit card.

You just need to make a purchase, let's say $30, and pay $10 a month until it's paid off, for example. You need a history of on-time payments to build up a credit history.

You also need to keep the amount of credit you are using down to like half of the limits or your credit score goes back down, even if you are making timely payments.

Answer 2

not a lot of things and what they are doesn't matter.Just a few things that way you keep a small balance that you can pay for a few months straight.That is how they track your "habits".If you charge and pay it off fully each time it won't .They want to know that you will be able to pay regularly on a timely basis.But whatever you do,don't get sucked into buying everything on that card.It's very easy to lose control over it.