Best way to use credit card to build/improve credit?

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Best way to use credit card to build/improve credit?

Postby caballero » Tue Feb 28, 2012 2:54 pm

I've recently successfully applied for a credit card which I couldn't do before because my credit score was poor (due to not having stable income).

I took getting a credit card as a sign that my credit score has improved and went to a bank to inquire about a personal loan. They said that they couldn't give it to me now, however I should be able to qualify for that soon.They've advised that I use my new credit card to build my credit score and improve it.

My question is simple - how to I use my credit card so that it would have maximum positive impact on my credit score? Should I cover the balance within the so called "grace period" before interest kicks in (25 days I believe) or should I let the bank have some interest deliberately by going over the grace period?

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Postby DoingHomework » Wed Feb 29, 2012 7:44 am

Never charge more than 30% of the limit.
Pay the balance in full before the due date.

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