2-3 credit cards are enough (and too many sometimes)

Do not overspend and pay always on time is all you need to have a high score.

cheers!

I’m also 21, and my FICO (just checked a minute ago) is at 795. I started off at 18 with Capital One, and have since grown to a bank credit card, and 3-4 store cards (old navy, buckle, best buy, etc.)

They actually say it improves your credit score more if you carry a balance for a few months. I’ve done that with my Capital One and Best Buy, even though I could’ve paid it off within the first month.

Just be careful to not go more than 5 or 6. I’ve heard that’s the max that creditors want to see. I’ve gone through and cancelled probably like 5 or 6 over the years to maintain this amount.

Finally, if you get a a car or home loan, this also may greatly improve your credit.

Good luck friend

Taking out a loan that you are able to pay (car.. ect), paying bills on time are all good ways to help establish credit. But credit works different.

In order to have a good credit you must be able to have a balance on your cards and also more room for spending. Its always good to pay your credit cards in full, but when you have a card with a $4000 limit, and you put $25 on it a month and pay it in full every time, you dont build up credit. Pay minimum amounts a few times. That will help.

It goes by ratios and simple math. A balance of $500, with payments due on time, and a spending limit of $2500.. they do this with all credit cards. Not 100% how it works.

Im 21 with a credit score of about 725 or higher. I got a car loan on my own, and I drive a 2006 Ford Explorer by doing what I told you. =)

Im bad at explaining things, since Im not in the business world, but Im sure you get the jist of it.

Find more information at the site listed below. Im sure thers more tips!

You also need other types of credit to expand your credit. Experts recommend 3 or 4 credit cardss and 2 installment loans to get the best mix of credit for the best FICO score.

You build credit over years, not months.

If you are a 750 with five $200 limit credit cards, you will still have difficulty getting a loan.

The problem with credit cards is that if you have a high balance in proportion to your credit limit, then your credit score will suffer.

For example…if you have a credit card with a $1,000 limit and you have $950 charged on it, your score will go down. If you have only $200 charged on it your score will not go down.