How long does it take to get a good credit rating?

[levistep]

I've never had a credit card before or taken out any loans (only 20). Should I just pay my tuition on my credit card to build up credit? The card charges 2.9% for the $8.5k a semester. How about having my parents put stuff on my card, and then have them pay it off with their card at the end of the month? Is this even allowed?

 

[aceduecetrey]

use your card and pay almost the whole thing every month, but leave a small balance. If your parents have cards that are in good standing have them add you on to them as a cardholder and depending on the bank, you may get credit for the whole life of the card.

 

[BASEHEAD]

I've never had a credit card before or taken out any loans (only 20). Should I just pay my tuition on my credit card to build up credit? The card charges 2.9% for the $8.5k a semester. How about having my parents put stuff on my card, and then have them pay it off with their card at the end of the month? Is this even allowed?

You should have 3-4 credit cards.Keep a relatively low limit and keep 30% of the limit as a balance.Pay your bills in a timely manner and try to send in more than the mimimum each month.A card thats not used or that keeps a zero balance is useless.

 

[joebatters]

You can do a google for first credit cards. There are many to choose from.
I would defitely NOT put your tution on there, I don't think that would be a good way to start. Just start out easy on what you charge, then try to pay it off each month. If you do that for, I'm not sure to be honest..but I'm guessing about a year you should establish a good credit rating. once you prove you can be responsible that way, they will probably up your credit limit and then the lower % of credit available will also help your score. The most important thing is never to send in a late payment.But, you gotta be careful... the companies get you in hidden charges, especially if you don't pay it off full each month. And be careful of perks...like % off of certain purchases. Which usually means you will be tempted and inclined to charge things that you normally would not buy because you think you are getting an extra deal. Just gotta be careful.

 

[BigBrian]

I gotta correct the above poster. If you want to BUILD credit, like this guy does, you MUST leave a balance on the card at the end of the month. It can be one measly dollar, but if its paid in full credit will not be established, let alone build up.