Building credit...

[blazeplacid 10+ year member]

score means some but history and legnth of open accounts means more

I dont really know how all of it works to an exact science

I was paying 1200/month on my car payment (payment was acutally about $400ish)

my credit score went from a 620-750 in a year and a half. Now I can get a $50k loan.....not that I would use it.

I also leave a balance on atleast two cards usually about $1000 on each and just pay $100 or so a month.

It doesnt matter what you do, you will always be in debt some how. Either house payment/car payment/ hospital bill/water bill someone will get your money. Just pay your bills on time

 

[Selkies 10+ year member]

Don't forget about the current state of banks at the moment. It's harder to get loans, and I haven't seen a credit card offer in the mail in quite some time. I was told that loans are better for your credit history than credit cards (though you should keep one - use it occasionally and PAY IT OFF). Try getting a small personal loan and then perhaps not even spend the money just put it in a savings account or something and pay it off as the payments come due. That is IF you can get a loan. Probably have to get your parents to co-sign.