How is one’s credit history built, and how do you build up a good history? Some people have said to me it’s paying utility bills on time, others have said it’s spending a lot of money on your credit card every month and paying THAT off on time, and yet others have said you need take out a loan and pay it back on time. So what exactly is it, and how does one get one? At whate age can you start creating a credit history?

2 Responses to “Credit history?”

1. jcmatt@sbcglobal.net on November 20th, 2009 2:59 am

   one of the most common ways to start building credit is by (1st) getting into a bank like Bank of America or Wells Fargo and open a checking account. Once you have a checking account and have some figure like $300+ in it then you can apply for a credit card with that bank.

   It’s alot easier if you are a student because you can apply for a Student Visa Credit Card and often you can do this with again Wells Fargo and Bank of America

2. doran50014 on November 23rd, 2009 6:36 am

   You can start building a credit history as soon as you can have accounts in your own name. All the answers you’ve received thus far are correct. Something to remember is that credit history takes a long time to build, but not long to destroy. Good credit history means paying your bills on time and ahead of time. It’s always good to pay more than your minimum payment on loans and credit cards. Another good tidbit of information is this: When most creditors run your credit, they weigh recent activity most heavily. They will see what your recent trends are. How have you been doing the last 6 months or 1 year? If you did well for 5 years, but you’ve been missing payments for 6 months, forget about that loan. The best thing to do is keep paying bills on time or ahead of time and don’t spend more than you make.

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