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What should I do to make sure I have a good credit score?
I want to have a good credit score early in life, I just don't know how to get a good credit score
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12 answers
Updated
PAMELA’s Answer
A good credit score starts with a few simple habits:
Get a credit card (student or secured card is fine).
Pay every bill on time. This is the biggest factor.
Keep your balance low, ideally below 30% of your credit limit.
Pay your credit card in full each month if possible.
Don't apply for lots of credit cards or loans at once.
Be patient. A strong credit score is built over time.
A simple example: If you have a credit card with a $1,000 limit, try to keep the balance below $300 and pay it off every month. Do that consistently, and you'll build a solid credit history.
The secret: Use credit responsibly! It is super important. Consistency beats everything else.
Get a credit card (student or secured card is fine).
Pay every bill on time. This is the biggest factor.
Keep your balance low, ideally below 30% of your credit limit.
Pay your credit card in full each month if possible.
Don't apply for lots of credit cards or loans at once.
Be patient. A strong credit score is built over time.
A simple example: If you have a credit card with a $1,000 limit, try to keep the balance below $300 and pay it off every month. Do that consistently, and you'll build a solid credit history.
The secret: Use credit responsibly! It is super important. Consistency beats everything else.
Updated
Adrianelys’s Answer
Always pay your bill on time. late payments stay on your credit report for a while and they will affect it. Pay off your full statement balance to avoid paying interest, interest is at an all time high right now so try to avoid that as much as possible. Always remember to only use 30% of the available credit, using more can cause your credit usage to be bad on your credit report
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Kathleen’s Answer
Always pay your bill on time. Keep your credit card balance low. If you can pay your credit card bill completely each month or at least make the minimum payment. Keep your oldest credit card account open to show that you have had credit for years. Check your credit report to make sure all is going well.
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Christopher’s Answer
To build good credit, start by creating a credit history. You can do this by becoming an authorized user on a parent's account or getting a starter credit card at 18.
Once you have credit, follow these steps:
1. Always pay your bills on time.
2. Keep your credit card balance low compared to your credit limit.
3. Pay off your full statement balance each month to avoid interest charges.
Regularly check your credit score to track your progress. These steps will help you build strong credit.
Once you have credit, follow these steps:
1. Always pay your bills on time.
2. Keep your credit card balance low compared to your credit limit.
3. Pay off your full statement balance each month to avoid interest charges.
Regularly check your credit score to track your progress. These steps will help you build strong credit.
Updated
George’s Answer
A quick search will show you that five factors affect your credit score. It's a complicated formula, and different systems can give different scores. It's not always exact and can change based on when and what information is reported to the credit bureaus.
1. Payment history makes up 35% of your score. Always pay on time. Paying in full doesn't necessarily help, but carrying a balance can lead to high-interest charges.
2. Credit utilization is 30% of your score. Try to keep your balance below 30% of your credit limit. Lower utilization is better.
3. Credit history accounts for 15% of your score. Having accounts open for a long time is better.
4. Different types of credit make up 10% of your score. It's good to show that you can manage various accounts, such as credit cards, installment loans, student loans, and mortgages.
5. New credit is 10% of your score. Opening new accounts occasionally is fine, but opening too many at once can lower your score.
The first two factors, payment history and utilization rate, are the most important, and you can control them. The other three take time and good debt management.
1. Payment history makes up 35% of your score. Always pay on time. Paying in full doesn't necessarily help, but carrying a balance can lead to high-interest charges.
2. Credit utilization is 30% of your score. Try to keep your balance below 30% of your credit limit. Lower utilization is better.
3. Credit history accounts for 15% of your score. Having accounts open for a long time is better.
4. Different types of credit make up 10% of your score. It's good to show that you can manage various accounts, such as credit cards, installment loans, student loans, and mortgages.
5. New credit is 10% of your score. Opening new accounts occasionally is fine, but opening too many at once can lower your score.
The first two factors, payment history and utilization rate, are the most important, and you can control them. The other three take time and good debt management.
Updated
Jezlea’s Answer
Hi Francis! It's awesome that you're thinking about this early! Here are some tips: try to pay off your credit card in full each month, but if you can't, at least make the minimum payment. Also, never go over your credit limit. Remember, the longer you keep your account open, the better it is for your credit score.
Updated
Shawn’s Answer
Hi Francis,
Great question, and a very important one for the entirety of your life! First thing I would do to start on the right track is to open up a small credit line credit card (when you turn 18) and use it for, let's say, gas for your vehicle - pay it off every month. This will get your credit going strong showing that you are great borrower! Also, never miss a payment of any kind and always live within your means - do not outspend your income.
Cheers!
Great question, and a very important one for the entirety of your life! First thing I would do to start on the right track is to open up a small credit line credit card (when you turn 18) and use it for, let's say, gas for your vehicle - pay it off every month. This will get your credit going strong showing that you are great borrower! Also, never miss a payment of any kind and always live within your means - do not outspend your income.
Cheers!
Updated
Ruaa’s Answer
Building a good credit score starts with using credit responsibly and developing good habits early. One of the best first steps is opening a credit card (such as a student card if you qualify) and using it for small purchases that you can pay off each month.
To maintain a strong credit score:
Always pay your bills on time.
Keep your credit card balances low compared to your credit limit.
Avoid applying for too many credit accounts at once.
Monitor your credit report regularly to make sure the information is accurate.
Keep older accounts open when possible, as a longer credit history can help your score.
The most important factor is consistency. Paying on time and borrowing only what you can comfortably repay will help you build a positive credit history over time.
Starting these habits early can make it easier to qualify for loans, apartments, and other financial opportunities in the future.
To maintain a strong credit score:
Always pay your bills on time.
Keep your credit card balances low compared to your credit limit.
Avoid applying for too many credit accounts at once.
Monitor your credit report regularly to make sure the information is accurate.
Keep older accounts open when possible, as a longer credit history can help your score.
The most important factor is consistency. Paying on time and borrowing only what you can comfortably repay will help you build a positive credit history over time.
Starting these habits early can make it easier to qualify for loans, apartments, and other financial opportunities in the future.
Updated
taylor’s Answer
Hi Francis,
In my opinion, making sure you have good credit is such a responsible concern!
I would not recommend paying off your full balance when your payment is due. Creditors want to see that you are using the line of credit, paying it off will not reflect usage. One thing I tell my customers is to make the minimum payment when the payment is due, allow the statement period to end and then pay off the balance. The idea is to keep your credit card usage under 35% and make all payments on time, and keep your debt to income ratio low.
Things that could negatively effect your credit score is missing a payment, closing credit accounts, having too many hard inquiries or too many revolving credit accounts.
In my opinion, making sure you have good credit is such a responsible concern!
I would not recommend paying off your full balance when your payment is due. Creditors want to see that you are using the line of credit, paying it off will not reflect usage. One thing I tell my customers is to make the minimum payment when the payment is due, allow the statement period to end and then pay off the balance. The idea is to keep your credit card usage under 35% and make all payments on time, and keep your debt to income ratio low.
Things that could negatively effect your credit score is missing a payment, closing credit accounts, having too many hard inquiries or too many revolving credit accounts.
Updated
Chris’s Answer
Hey,
This is an important question, because in life we need to have good credit in order to finance anything and everything. The higher the credit score the better the deal. In order to have a great credit score follow this rule. When you get your first credit card never use more than 10%, they always say 30% but trust me 10% is the excellent credit rule. NEVER let a credit card be past due, and if you owe a credit card make 2 payments in one month not just one. I'm not sure why but I did that and my credit limit rose to the top. Most of all never use more than you can afford to pay back. Anything you get approved for you need to steward it with precaution because those interest payments will add up.
Good luck !
This is an important question, because in life we need to have good credit in order to finance anything and everything. The higher the credit score the better the deal. In order to have a great credit score follow this rule. When you get your first credit card never use more than 10%, they always say 30% but trust me 10% is the excellent credit rule. NEVER let a credit card be past due, and if you owe a credit card make 2 payments in one month not just one. I'm not sure why but I did that and my credit limit rose to the top. Most of all never use more than you can afford to pay back. Anything you get approved for you need to steward it with precaution because those interest payments will add up.
Good luck !
Updated
Thameed’s Answer
Building good credit comes down to showing lenders that you can borrow money and pay it back responsibly over time.
1. Open a credit card if you don't have one
2. Pay every bill on time
3. Keep credit card balances low
4. Open a credit card if you don't have one
5. Don't apply for too many accounts
6. Keep older accounts open
1. Open a credit card if you don't have one
2. Pay every bill on time
3. Keep credit card balances low
4. Open a credit card if you don't have one
5. Don't apply for too many accounts
6. Keep older accounts open
Updated
Jessica’s Answer
Simple answer:
Save money and learn good money habits.
Get a beginner credit card when you're 18.
Use it for small purchases.
Pay the bill on time every month.
Pay the full amount if possible.
Don't spend too much on the card.
Easy rule to remember:
Use a credit card, spend a little, and always pay it back on time.
If you do this consistently, you'll build a strong credit score over time.
Save money and learn good money habits.
Get a beginner credit card when you're 18.
Use it for small purchases.
Pay the bill on time every month.
Pay the full amount if possible.
Don't spend too much on the card.
Easy rule to remember:
Use a credit card, spend a little, and always pay it back on time.
If you do this consistently, you'll build a strong credit score over time.