Is 19 credit hours too much?

How to raise my credit score/make it worthwhile?

• So, I have a credit score of 755, which is good, right? Not really, the only reason it's so high is because I have one credit card with a $500 limit that I've used twice for a total of $13.00. It's with Discover, and has a 20% interest rate. I really hate using it because I pay so much more than I would originally. I have had that account for 1 year and 2 months now. I tried to open an account with Citi for a credit card on 06/2010, which does count against me but expires in a couple of months. This is literally all I have. I'm in college, and I'm only 19 years old. I'm starting to bank with a credit union (in the process of switching now), which I don't think will have any positive or negative affect on my credit score. I do pay for my bills, but they're bundled with my mothers. So, I just pay her back. literally, the only thing in my name is the discover card, and two bank accounts (which don't count). Things I know I should do: -Put the phone bill in my name, so I have a bill. That helps, right? -Make a purchase with my discover card that will have a revolving balance. Like, the total due rolls into the next month. All the same making sure that I don't exceed 30% of my available credit line. -Not take out any more credit cards, having too many hurts some how. Things I could do: -Take out a student loan. If I immediately repay it, does it still have a positive affect on my credit score? Should I slowly repay it? Say I take out a loan of 1,000. Should I pay it back at a rate of $166.66 for six months, or just pay it back in two installments? -Not really sure. In short, I just want to have a legit credit rating. If I went to apply for a car loan now, I wouldn't be able to get one despite my credit score. I don't need one, however I'm using this as an example. I hope to move out soonish to transfer to a different college, and would like to be well established. Local utility departments make you pay $100-300 up front as a deposit, which really would add up the cost of moving. I do have a part time job, where I work ~30 hours a week. Thank you for reading all of this and any advice that you offer. This is really long, so sorry.

• Answer:

  Your ability to pay a loan or make payments for rent, for a bill, and pay a car loan is what affects your credit score. Even taking out a student loan and paying it back is considered a factor to impact credit. When you take out the student loan, pay it back monthly and not in two payments. That defeats the purpose of showing that you can pay the monthly payments on time. The car loan for example is also a good way to improve your score. your credit score is good enough as it stand, but you need to get credit history. This is the difference. Take the phone bill out in your name and ensure you be on time with the payments. And when you get any other bill, pay it full to avoid a fee. Here is a link you can use to Improve your Credit Score History.