I just got my first credit card and I want to establish good credit in a fairly short amount of time. I don't really want to dig myself into a hole but will paying my credit bill in full every month give me a good credit score? Is there a certain way I can pay it the first few months to help build it to its full potential?
I have 800+ rating.
I have never carried a balance on any credit card. and never paid a penny interest.
It is simply and old lady's myth that carrying balances increases your rating – just a myth.
Carrying balances can reduce your credit worthiness. Buy stuff you need like food or gas, and pay it in full.
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