General Question

seekingwolf's avatar

How long does it take to build some credit?

Asked by seekingwolf (10407points) October 1st, 2012

I don’t have bad credit, just no credit.

I’ve had my credit card since June. It’s a capital one student. Low credit limit ($300), high interest, but no annual or monthly fees and I can do everything online.

I typically use about $200/month on it and pay it off in full before the due date, in the grace period. Easy stuff. I don’t have any other cards. Rent in my boyfriend’s and my name is paid on time. TWC bills are paid on time too. I have no debts at the moment.

How long will it be before I go from no credit to some credit if I keep doing what I’m doing?

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7 Answers

Judi's avatar

Within 6 months you will have built a history. In a year or two it will look better. Keep paying off the balance.

BlueGirl218's avatar

My brother got a Macy’s card and bought jewelry through Kay to help get credit history, it worked for him.. So if you’re looking for more ways to get good credit history I’d suggest doing one or both of those or something similar.

seekingwolf's avatar

Yeah I’m thinking about getting a card through a store I use in order to build credit more. I wish my favorite grocery chain had one cause I’d use that. I spend $100/week at the same grocery store.

WestRiverrat's avatar

Check with your bank, most will provide credit cards for their customers at reasonable rates.

Jaxk's avatar

There are a few tricks that you could employ. One is to get your parents to put you on one thier credit cards. They don’t even have to send a card to you just put your name on it for a while. You get the benefit of thier credit on your report with no exposure for them. My son used that trick and I was happy to help even though I wouldn’t give him a card.

seekingwolf's avatar

Mine doesn’t. At least, not for people with little or no credit history.

I piggyback on my mom’s but not my dad’s.

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