I am 35 with perfect credit the highest! I know what your thinking...I am not rich by any means! My mom gave me the best advise when I turned 18 and I’ll pass that on to you! They want to see you pay off debt repeatedly every month debt can mean anything from $1.00 to infinity. So the fasted way I was able to start building and raising my score from an early age was to open a credit card or two! YOU HAVE TO HAVE A PLAN and most importantly SELF CONTROL! I would take my credit cards that of corse had super high interest rates and once a month I would use them in a gas station to buy a soda or candy bar 5.00 purchase! And then I would go home and pay it off at my computer right away. Do this with 2 cards once a month and pay it off right away. Paying it down to zero once a month will avoid you paying any interest at all meaning zero interest! Easy as that! Like I said all they want to see is action on your card so use it for a small amount and pay it off right away back down to zero! Watch your score grow but most importantly never cancel a card! Having a card open for years raises your score too! If you don’t want to use a card anymore put it in a drawer Instead. This is the best advise I can give anyone... remember you don’t have to spend a lot of money to gain credit it can literally be a soda or a candy bar! Keep it manageable and don’t lose control!
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I was wondering if anybody knows why, after I opened a new credit card, one of my credit scores stayed the same, one increased 18 points, and one decreased by 5 points? This was as soon as the card was posted to my reports as opened, before any charges/balances/payments. I’m also confused about credit utilization- I am charging about 10% on my cards each month, I now have 2 credit cards. so do I let that 10% post to the statement so the 10% is what is reported to the CBs? I am paying my total amount due each month. or should I be charging the 10%, then paying part of that off BEFORE the statement is posted(if so, what percentage?), and then paying the remaining balance in full before the due date? thanks!
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