Credit Cards

I was reading a thread yesterday how some people are paying off their credit cards but keeping them for credit score purposes. I don't have any credit cards but i was wondering if they were used properly could i improve my credit score more rapidly with them? Let me know some of ya'lls thoughts on this.

 

Definitely. Not having enough of a credit history will hurt your credit score. I don't carry any debt on my credit card, but I use it every once in a while for big purchases, and then pay it off immediately. I get rewards from the card, and it demonstrates that I'm responsible with my credit, which does help your credit score.

 

Yes, unfortunately in order to build credit you have to prove that you are credit worthy, and that only happens if you buy something and pay it back. What I've heard is that you should get a credit card, buy stuff, wait a little and pay it off. Sounds stupid, but I guess that's how it works. I personally don't have a credit card, but I bought my truck years ago with a bank loan, and later bought a PC- also with a bank loan- and that built up my credit pretty decently. But I think I might get a credit card anyway because my Wife and I want to buy a house in 2-3 years and I suppose we'd better have good credit... hence prove we can pay back loans, etc etc.

 

i have had great credit up until the last few years when we had some major changes with bills and incomming pay but i was just looking for the fastest way to build it back up so that i don't have to borrow on a loan of 20% interest ect , ect. thanks for the input so far.