Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
Re: Advice for young person (re)building credit?

If you know of someone (usually a family member) that will add you as an AU to their CC (this CC must have a longer history then 4 years and have no derogs)  This will give you a longer history which will bring your scores up.

 

The longer the history the better BUT  no lates or anything else. The CL doesn't matter but the UTIL should be under 9%.  Their UTIL comes to you as well as history.

 

The baddie that you have now is helping your length of history. (date opened 2002). If you are an AU on a CC that was opened in  1995 then your LOH will be 14 years.

 

Age of accounts are very important.