Monday, December 12, 2011

How long does it take to gain credit?

I went to get a cell phone in my name to get off of my dad's plan and become more independent, but when I tried, the company tried to charge me a $500 deposit because I have no credit. (I am nineteen years old.) So my dad took me to his bank and we applied for a student credit card for me.

I'm not going to overuse it, I never wanted a credit card in the first place. Basically my dad told me you can't do anything without credit, so I guess I have to start building it now. How long will it take me to build credit with this credit card and what is the best way to do it?How long does it take to gain credit?
Use the credit card every month and pay if in full beforethe due date. After about 6 months, you'll have a score. The longer you build the consistent, on-time payment history,the better your score will be.

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