I HAVE NO CREDIT WHAT SO EVER I JST GOT A CREDIT CARD FROM B of A for $600?

Question

i got the card a month ago my minimum payment is of 15 i made it of 25 is this goin to help me and how long will it take for it to show up on my credit score?

Answer 1

Make the payments for three months (at least the minimum), and then pay it off, and cut the thing up and close the account.

Crack dealers give out free samples to get you hooked.

So do credit card companies.

Answer 2

The best thing to do is to pay the credit card off totally every month.  Never, never pay the minimum or even close to it.  Pay much more, and as I said, pay the whole thing off.  You avoid interest that way and increase your credit rating.  I have no idea how long it will take to show up on your credit rating.

Answer 3

The  $15   is  called  the  idiots  payment  because  it  take  years  to  pay  of   the  debts ,

While  your   total   almost  triples  from  %  charges .

Only  paying  min  will  Hurt  your  score  because  the  high  left  over  balance   trashes  your   debt  to  available  credit  ratio .

If    you   want  a   good  score ,   pay  off  the  Total  balance   the  week  after  you  get   the  bill .

It   will  also  save  you   $$$$$$$$  by  avoiding  %  charges .

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Answer 4

Yes! This will help. Make sure to pay your bills on time, and never charge more than 30% of your limit. Also,  DO NOT close the account just because you aren't really using it, the longer credit history you have, the better. Your credit updates every month, and the longer the history with on time payments and low balances, the better! Hope this helps...

Answer 5

Creditors report to the credit agencies every 30 days so yes as long as you make your montly payments on time this will help you.

Answer 6

Keeping your balance low and paying extra every month looks great on your credit. When you have a credit card it shows on your report how much you owe, how much your minimum payment is and how much you pay. Future creditors will like seeing that you will pay more then asked. Good luck getting your credit started.

Answer 7

You do not want to do what these people say about "pay the whole thing off each month". Not if you are wanting to IMPROVE your credit. They want to see how well you handle paying the debt, and handling it. Paying it off, each month means you really had no credit. There was no interest, etc. etc. Paying off early every month on a credit card is dumb. Why even have it if you have that much money (cash) to do whatever you want with it. So, if it were me, and I wanted to improve my credit like you obviously do, I would not pay off each month, I would pay maybe $2.00 above the minimum payment. And watch my credit report. It will help you more than paying off early each month, and obviously paying it for 3 months then closing the account.

Answer 8

First, there is absolutely no advantage to dragging out payments.  Credit card companies DO NOT report how much you pay.  They only report if you pay on time or not.    There is not truth that you have to pay interest and carry balances to show you can handle payments -- that's all urban legend!

The best way to build your credit is to use the card every month but only charge what you can afford to pay in full each month.  You don't have to pay interest, won't accumulate debt, and will have a good payment history.

It may take 6 months of on time payment before this account shows upon our credit report.  You will need at least 24 months of consistent, on time payments to see improvement in your score.  That's what builds your credit -- consistently paying your bills.  The longer the history, the better your score.