Saturday, August 21, 2010

Advice on building my credit (recently turned the age of the majority)?

I recently turned 19 (age of the majority here) and I'm looking to build up my credit.





As of right now I have:


1x Mastercard ($1000 limit) with a $270 balance (waiting for my bill)


1x Visa ($1000 limit) no balance


No student loans, overdue payments, etc. on anything








I don't intend to hold a balance on either, I simply want to build up my credit score. Should I purchase most of my everyday needs (food, etc.) on them, wait for the bill and pay them off - or is it better to pay them off immediately? I know you get a better rating for keeping them under 33% of their limit.





Thanks for any input.Advice on building my credit (recently turned the age of the majority)?
you dont have to charge a bunch on your card... just what you can comfortably pay off. i try to only charge gas to my credit card...the rest of my expenses i use cash/debit card. that way when the bill comes in it wont be that much. but it looks like ur doing good. there is no need to carry a balance or charge everything to your card to prove your credit worthiness.

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