Long Does It Take To Build Credit?
The answer to the question, how long does it take to build credit is not simple or straightforward.
There are a lot of components and variables involved when building credit, however there are a few points that are
considered crucial and significant. To get to the answer to the query of how long does it take to build
credit, one has to look at various areas and elements.
When trying to build credit you first have to establish a credit line by securing a credit card or a loan. If for
example you obtained a credit card, make sure to pay your bills on time and to not go overboard with spending.
Avoid maxing out your card and keep your debt at healthy levels. With that mentioned, a person aiming to build
credit should have a good credit to debt ratio, meaning that his amount of credit available should be relatively
higher than his total accumulated debts. The same principle holds true for loans. Make sure to pay your loan
obligations on or before they are due and to take out loans that have reasonable and manageable terms. Securing a
credit line is the first step and would clear the path for finding direct answers to the question of how long does
it take to build credit?
Another element involved in building credit is credit history. If you have a good history of paying your bills on
time and you are able to exercise control over your spending, then your credit score would be at a comfortable
level. Conversely, when your payment record shows that you are not a prompt payer and that your debt levels are
consistently high, your credit score would understandably be low and unimpressive. In particular, bankruptcy cases
could remain in one’s credit history for as long as a decade and would put a black mark on one’s credit score for
years to come. Establishing an admirable payment pattern is essential in building credit and the ability to be
consistent in such would make the task of answering the question, how long does it take to build credit, fairly
Another factor that comes into play when building credit is a person’s income. People with high incomes would be
able to establish their credit quite easily while the opposite is true for individuals who belong to low income
The question, how long does it take to build credit would be easy to answer for people who possess
financial maturity and stability. Generally speaking, people who are prompt payers and earn high incomes can build
a respectable credit standing in a matter of 6 months to a year.
On the other hand, people who exhibit a pattern of being late on payments, and have low incomes would need years to
establish decent credit.
Source: Credit Cards For People With Bad Credit Rating
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