Question about credits earned by a secured credit card after one year use...

[Anonymous]

Hello all,

I have one question about building a new credit score.

I got a new SSN, so I do not have any history or score available now.

So, I want to get a secured credit card to build a score.

My question is,

if I pay on the time with a $300 limit secured credit card for a year (without relying on other financial sources),

how many scores can I build by then?

Thank you in advance!

[haulingthescoreup]

Hi, welcome to the forums, and presumably to the US!

By "how many scores", did you mean what might your score be after a year?

If so, a typical starting place would probably be around 680 after 6 months and maybe 700 after a year.

Do you have access to a credit union, either through a university or your employer? If so, credit unions can be good places to start building credit. Perhaps after 6 months of a secured credit card, you could then apply for a small personal loan, and pay that every month. Don't borrow very much, so that you're not paying much in interest, maybe $500 or so.

[Anonymous]

Thank you for the reply!