Use Your Credit Cards

Because credit cards create a rolling credit line, they can be a terrific resource for people looking to improve their credit. You can start building a strong credit history by holding an open account and maintaining it in good standing. 

How does this affect my credit score, then? 

• 12 on-time payments will be associated with an account on your credit report once it has been open for a year. The tradeline helps your credit score increase more and more as good payments are added to it. 

How can credit cards be used to raise credit scores?

• You should maintain monthly balances of $10 to $20 in order to receive the maximum benefits. Find out which day of the month your balance is reported to the credit agencies by getting in touch with the company that issues your credit card. You can time your payments such that they are applied before the total balance is reported by being a little more careful.

Where can I locate credit card offers that can help me improve my credit?

• Many websites offer great resources for credit card offers, however, The Credit Lion has a specifically tailored list of credit cards that are great for building credit history, while giving you your choice of cash back or travel benefits!  Learn more by clicking here.