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Just starting off trying to develope credit to buy a house in the near future, already have a payed off car. So there is no sence in getting a new one to establish credit. Therfore im going to try to do it by credit cards.

So im just trying to come accross the guidlines of how to do that.

2007-08-02 08:27:50 · 5 answers · asked by ltmac85 1 in Business & Finance Credit

5 answers

It's simply really.

Just use them for everyday things like gas and food being careful never to exceed 30% of your credit limit in any given month and pay thme off in full before the due date.

This will do two things, first it will establish a payment history and second it will keep you debt to credit ratio low. These two things alone make up 65% of your credit score.

And dont' worry about carrying a balance, the lag between the billing date and the due date will give the credit card companies something to report even if it's only a few dollars.

2007-08-02 08:53:23 · answer #1 · answered by ? 7 · 0 0

Pay the card off as soon as you get the bill. Pay on time. dont keep a high balance. If you charge a little more make sure you can pay it off in three months. You could use it to just buy a tank of gas every month and pay it off when or before the bill comes. good luck

2007-08-02 15:47:05 · answer #2 · answered by hourglass_beauty 4 · 0 0

Do not go or I should say owe more than 30% of the limit, use is sparingly and pay the balance off before the due date every month.

2007-08-02 16:25:30 · answer #3 · answered by Pengy 7 · 0 0

simple. use your credit cards alot but pay them off completely every month.

2007-08-02 15:30:50 · answer #4 · answered by stephanie l 5 · 1 0

you will get answers 8 pages long but the lady said it all.

2007-08-02 15:32:16 · answer #5 · answered by mister ed 7 · 0 0

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