How to Build Credit Using Your First Credit Card

In this episode, financial expert Shonda Martin shares valuable tips on how to strategically use your first credit card to build credit. Learn why reporting a small balance can boost your credit score and the importance of utilizing your credit card in the first month. Don't miss out on these important credit-building insights!

#EYL #creditcards #creditscore #financialtips #buildingcredit #personalfinance

[GenesysStone]

It’s simple. Get a credit card. Use it only to pay 1 monthly subscription (netflix, disney plus, prime etc) and don’t use it for anything else. And pay it off every month. Your credit scores will be 740+ in about a year.

[gio]

Don’t buy the pair of sneakers unless you were going to buy them anyway. Buy something you usually buy or have to buy then pay it off before interest accrues. That’s why gas was a good idea.

[iamCrwly]

From personal experience you can use your card as much you want just long as you pay on time and keep your card utilization on the statement report under 30%. Best within 1-3% margin. Most importantly use it on things you can afford. Each transaction you wanna have cash on hand to cover that transaction when the bill is due.

[Lfromthealphabet]

It’s not sneakers or chips it’s using your cc like a debit, if u don’t have the money ready to buy it don’t buy it on a cc. Credit is a loophole not a cheat code.

[miahstalings]

Do what’s right for you no one can tell you how to deal with your own credit. Had to learn this on my own. Everyone’s credit is unique.

[TangoActualTV]

The day I realized chasing 0% was dumb, everything changed. Was lowk mad my scores ain’t change for a while

[jimihendrix]

If it’s your first credit card yes but if it’s your 2nd 3rd 4th …. Just use it one time a year to keep the account open while using your first like a debt card . Just keep a small balance on the first one

[bdavis]

Pay a bill n pay your credit card bill all the way off with the $ you were going to use to pay the bill with and the rinse & repeat....FYI DON'T BE SLAVE TO THE LENDER

[bronxbomerpito]

Thank you that was some useful information

[BootyBoo]

Is it ok to use a portion and then pay it to $0 the next day ?

[alphaone]

Is it typical for the credit card company to give you a 60-day non payment?

[Zo_]

Buy Groceries and Gas, AND PAY BACK ON TIME!!! PERIOD!!💯

[mustsnip]

Try not to use over 30% of your credit. They want you to use the card but not too much.

[bondjovi]

I've had more loans than you have, lol.

[TaaJaBurns]

Thank you kindly for your time and teaching us this. It's all new news to me and now I know how to make beneficial money making moves.