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? asked in Business & FinanceCredit · 6 years ago

How to build good credit Fast?

I am getting my first credit card, and was wondering how to build credit fast, there are certain things I want to buy at $100 each, should I do 3 separate transactions and pay back right away?

6 Answers

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  • rpf5
    Lv 7
    6 years ago

    You can't build credit fast. You build credit by having a history of on time payments. If you have the money to pay it back right away. Why not just buy it? What does 3 transactions have to do with it? Don't buy it if you can't afford it.

  • Jake
    Lv 7
    6 years ago

    Bar far thew biggest thing is to avoid any negatives, like paying late, which also have cause your interest rates to be raised. Paying off the balance each month is good for avoiding interest charges, but I have not heard that your monthly transactions are a big factor, it is good to keep any running balance well below the maximum, 66% is OK 33% to 50% is better.

  • 6 years ago

    You cannot build good credit fast. If you try to build credit fast, then you won't build good credit. To build good credit, you must either (a) not be trying to build credit, or (b) be trying to build it slowly. Good credit can only be built slowly. Credit that is built fast will be bad credit.

  • 6 years ago

    No such thing as building credit fast, it takes YEARS of good payment history and if you max out your card, that also hurts you

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  • Anonymous
    6 years ago

    You can't do it "fast." It'll take a couple of years of on-time payment history first.

  • Willie
    Lv 7
    6 years ago

    Don't pay cash.

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