1. Welcome to the new Styleforum!

    We hope you’re as excited as we are to hang out in the new place. There are more new features that we’ll announce in the near future, but for now we hope you’ll enjoy the new site.

    We are currently fine-tuning the forum for your browsing pleasure, so bear with any lingering dust as we work to make Styleforum even more awesome than it was.

    Oh, and don’t forget to head over to the Styleforum Journal, because we’re giving away two pairs of Carmina shoes to celebrate our move!

    Please address any questions about using the new forum to support@styleforum.net


    The Styleforum Team

    Dismiss Notice

How to get a credit score (A Good One)

Discussion in 'Business, Careers & Education' started by JBG89, Oct 28, 2010.

  1. JBG89

    JBG89 Well-Known Member

    Apr 11, 2010
    As of today I officially have zero credit.

    What would be the best starting way to get a good credit score? I was suggested obtaining a credit card, and paying it off.

    Should I pay it off 100% each month or leave a bit to build? I've heard both told to me.

    Additionally, would anyone recommend a specific card? AMEX would not give me one due to my lack of credit. Should I take a card at the bank at which I am currently holding my checking #?

    PS* I am currently a student.

  2. Saltricks

    Saltricks Well-Known Member

    Jun 16, 2010
    Walnut, CA
    start one with macys/ discover etc.

    something that has low barriers to entry
    never close it, this will be your oldest card and the basis of your credit history

    Your credit score/ FICO score is based on these ratios:

    Payment history - 35%
    Amounts owed - 30%
    Length of credit history - 15%
    New credit - 10%
    Types of credit used - 10%

    So ideally, you want to have some sort of balance that you pay off every month, keep your max credit/balance under 20 percent, and try to open cards to increase your max credit which reduces your credit/balance ratio. Never pay late.
  3. globetrotter

    globetrotter Well-Known Member

    Sep 28, 2004
    greater chicago
    +1 on macys - when we moved to the states, we got macys cards and worked up from there
  4. otc

    otc Well-Known Member

    Aug 15, 2008
    Can't you get a standard student visa/mastercard? Most people are able to get those with something like a $500 limit without issue. This may be that they have student loan accounts though (which appear as some form of credit) so if you have absolutely zero credit, it might be hard to get a student account.

    If you seriously can't get a student account, then try one of those "secured visa" cards where you basically pay in advance but slowly build credit until you can get a normal card.

    Should I pay it off 100% each month or leave a bit to build? I've heard both told to me.

    100% in full every month.

    Don't try to get an AMEX...your first card should be a visa or MC as they are accepted everywhere.
  5. ramuman

    ramuman Well-Known Member

    Feb 14, 2009
    Silicon Valley
    Get Visa or MC and try to get the highest credit line you can. Then use as little of it as you can and pay off that in full every month.

Share This Page

Styleforum is proudly sponsored by