Immediate credit card care service
|
 |
I have no credit and just recently got a capital one credit card. How long do I have to use the... |
0% Intro APR for 15 Months. 5% Cashback Bonus.
Apply for a Credit Card Today! An Excellent Credit Card for Rebuilding Credit Scores.
 |
|
Date:
December 16, 2008, 12:20 am |
 |
I have no credit and just recently got a capital one credit card. How long do I have to use the credit card to create a sufficient credit history? |
|
Answer:
Excellent credit is the result of a long-lasting, no less than 5 years, payment history with the bank. If your goal is to build credit just sufficient for future potential lenders to assess your applications, you need to use the Capital One credit card for at least 2 years, making all your payments on time and keeping balances below the limit. This way, you'll build an average credit rating expressed in 620-650 FICO score which makes you eligible for better credit terms and rates. Once you've achieved the average score, it may take you just a few months of responsible card use to upgrade it to the good level. The key to creating a solid credit history is to make regular on-time monthly payments and keep your card spending low. |
|
|
|
 |
All content. Copyright © 1999-2012.
Credit-Land.com, Inc.
All rights reserved. |
|
|
