Question

I need some advice please! I’m 20 and starting to take finances, budgeting and saving more seriously than I ever did before. my question to you guys is how do I build good credit? I have 2 credit cards, both of them with low balances and low limits as I am younger. no loans or anything like that, just a phone bill that’s in my name. just wanted some advice on how to create strong credit early on so that one day down the road it will pay off!  

Answer 1

I got a secured credit card from my bank and made sure to pay off the entire balance every month to build credit.  

Answer 2

If you want to grow your credit, put something small on your cards and pay it off every month. Try to never exceed 30% of your credit limit and try not to carry a balance from month to month.  

Comments

@cluster great advice