Building Credit

having a credit card is a good thing building credit having good credit is so important in today's day and age whether it's buying a car buying a house any of these things require you to have good credit and one of the ways that you can build good credit is by going out and opening up credit lines so having a credit card is a good thing you should start early so I had a credit card when I was 16 years old my father went out and he co-signed for me to have a card and then I would go and I have an ability to use it very little at a time and pay it off and I was able to start building credit one of the things that I do now is I try to have a couple different cards open ones with no fee that I can have different credit lines with and that actually ends up building your credit with the different agencies so they see that you have more than one credit card available to you so if you don't have a credit card my suggestion would be go out find a good no fee card get yourself a line open that could be small it doesn't matter and then as you use it make sure you're paying it off in full every single month and the other thing that you should keep in mind too is that the percentage of the total amount of credit that you're using is a big part of this whole thing so as an example if I have five different credit cards and each of them has a ten thousand dollar limit that means that my total credit line globally is fifty grand well if I'm going on each of those cards and I'm this is a hypothetical running them up to five thousand dollars a month each that means that I'm using fifty percent of my total credit the agencies don't like that what they want to see is a small percentage of your total credit being used so as an example if I have fifty thousand dollars of outstanding credit and I'm only using you know twenty five hundred a month because those are my credit card bills when I'm paying them off in full every month I'm only using five percent of my total credit available and that is a good thing for your credit score and it's also a good way to just continue building your credit for the future