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Old 08-13-2012, 12:27 PM
centralclb centralclb is offline
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Default Getting a card just to build score. Better to make payments or all at once?

Im just getting a credit card through Veridian just to start building a score. I really only plan to put 50-100 bucks a month on it. My question is: if building up my score is my #1 priority, should I pay it off in full every month or make the minimum payment every month?

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Old 08-15-2012, 02:51 PM
PandaAce PandaAce is offline
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Default Re: Getting a card just to build score. Better to make payments or all at once?

You should make a budget where you pay off in full every month.

One of the most important factor in credit is your debt to credit ratio.

So if your credit report show's you have $100 available credit line with your credit card and you owe tham $0 looks much better than you owing them anything. As a rule a thumb you usually want to be under 25% of your available credit amount.

You may want to look into Capital One or Orchard Bank, both have credit cards for people with bad or no credit.

The best advise is to only charge something small each month and then pay it in full before the due date. Do that consistently, never be late, never miss a payment, and try to never carry a balance, after a consistent record of that you will see your score rise a lot!
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