Credit Report & Scores » Life Stages » Establishing Credit » How Can a Young Person New to Having a Credit Card Build Credit?

How Can a Young Person New to Having a Credit Card Build Credit?

Building credit takes time. If you have a new credit card, make a small charge each month and pay the balance in full every month. Doing so will help build a positive payment history over time. Responsible credit use and reliable payments are essential to having good credit scores.

You don’t need to carry a balance on the credit card; you simply need to show activity and positive re-payment information to demonstrate that you consistently manage debt well.

It takes at least three to six months of activity before a credit score can be calculated. Over time, by using your card responsibly, you will demonstrate to lenders that you are a good credit risk and your credit scores will increase.

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Scoped on: 1/31/2017