How long does it take to build credit?

How long do it take for your credit to build up?

• I'm 19 turning 20 and I have no type of credit, cuz I never had a credit card, so my mom put me onto one of her credit cards, so my credit can build up, how long will it build up? Yes I learn everything from my dad and economics class, so I make sure I pay everything on time and a good amount too, I just wanna know when will I have good credit if I keep it up and stay on time with all payments?

• Answer:

  Usually, one or two years of payments on a credit card with NO incidents or late payments will result in you having the highest score on your credit rating....IF this one card is the only thing you are using for or with credit. You need to make sure that this is going on YOUR credit and not your mothers. If its her credit card, then you make be wasting your time and money....some credit cards only report information to the credit bureaus for the main cardholder. If you want to get good credit, then I would get your own credit card. Charge small amounts, like $100.00, and then pay it off in two payments before you charge something else. Dont charge more than what you can pay off in two or three payments. After a year or two, you should have excellent credit. Just dont go "nuts" and abuse it like so many others do....then they have bad credit for the rest of their lives. If you want someone to talk too about this who would know more information, then I would talk to an experienced bank manager.