I've only had the card since January 2017, and the only other line of credit I have is a student loan which is mostly off my hands (I'm fortunate that my parents can cover it for me). For the first several months, I was using my card almost exclusively in place of my debit card, thinking that racking up big statements and paying them all off in full and on time would help me establish good credit quickly, as it shows I'm "reliable". It wasn't until I started checking Credit Karma more closely that I realized the best way to build credit is actually using the CC as little as possible. Why is that?
According to CK, if I use my CC for just $45 or less each month, that would actually be the best possible way to build credit... seems a bit counter-intuitive, no?
Any explanation would be much appreciated :)
Submitted June 25, 2017 at 10:41PM by scottg96 http://ift.tt/2s6LZYn
