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Heres how in five steps.
Credit card companies issue secured cards to borrowers whose applications they would otherwise reject.
Never charge more in a month than you’re free to afford to pay off.
If you pay your statement balance in full, you wont pay finance charges.
Step 4: Keep Your Credit Utilization Low
The No.
2 biggest part of your score is your credit utilization ratio the amount of available credit youre using.
Lenders like to see a ratio under 30%, but lower is better.
After six months or a year of responsible use, then consider applying for better cards.
They report actions like
This information is the basis of your credit score.
Using a credit card responsibly can improve your score.
How Long Does It Take to Build Credit with a Credit Card?
Most people can improve to a good score of 670 to 739 in about a year.
Tip:Your credit card is a tool to build credit, not free money.
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