← Return to Bank It or Plank It 2019
Bank It or Plank It 2019
I need to build my credit rating here in the states – I will be applying for a credit card, use it for daily expenses and pay in full each month. Are there any other products I need to build my credit score? Thanks!
Jump to this post
Hi @ahmedz – a credit card can have a useful place in a consumer’s financial toolbox! It sounds like you are in a “credit building” phase of your life. If that’s the case, I think you’re on the right track: paying off the balance in full and on-time will help build your score. One more piece of advice: I recommend using no more than 25% of the credit limit.
If your credit limit isn’t very high, consider using that credit card to pay one small bill each month (such as a streaming service that you already pay for) and then setting up an automatic payment to pay off the balance of your credit card in full every month.
Hello, I found this article from Experian (one of the major credit handlers or a "multinational consumer credit reporting company") that can help you learn to build your credit here: https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/building-credit/.
version 18.104.22.168.5.9Page loaded in 0.208 seconds