Improving Credit Score

All - I'm in my mid-20s with almost no credit history. My credit score is 670 and I'm hoping that if I treat this card like a debit card (i.e. use the credit card for small purchases then immediately pay it back), I can improve my score in short time. Does anyone have experience building credit and how long does it take?

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Most Helpful
Jul 13, 2019

I can help, I had an 800+ score by 22.

Set the card to auto pay in full on the due date, don't pay it off immediately because then it will report that you're not using it.

Keep credit balances under 10% utilization, meaning if your card has a $2,500 limit, don't spend more than $250 on it. Keep that number under 10% per card and for your overall credit card portfolio. As you get more cards/ higher limits, this will become a usable number. I'm sitting on something like $40k between my four cards, and they rarely if ever go over 10%.

A huge factor in credit score is time. Your average age of accounts and history of paying on time will do the most for you, so a lot of it is just waiting. I was able to cheat this a little and was added as an authorized user to one of my parents cards when I was 18, and it was reported that I had had a card since '96.

Don't apply for a ton of credit at once, or even within a year. Each time they pull your credit, it's a hard pull, and for me, has dropped my score between 0-20 points each time. It stays on your account for 2 years, but the damage starts going away after 6 months or so.

Hope this helps!

    • 4
Jul 15, 2019

Thanks for the tip! Why will it not report that I'm not using it if I pay off the balance before the due date?

Jul 13, 2019
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