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How To Build Credit With A Credit Card

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Jared Beilby

Jared Beilby

Jared is a writer hailing from the Pacific Northwest. Besides writing for Merchant Maverick, he has experience writing about sports and video games. He holds a Bachelor of Arts in Journalism from George Fox University.

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4 Comments

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Bob Rising

    If you have multiple credits cards with balances over 30% and you’re trying to pay them down, is it better to pay them off one at a time or a little bit on each one every month?

      Emily Hale

      Hi Bob,

      That’s a great question. In terms of building credit, it is important to get all your cards under the 30% threshold because credit bureaus consider both the individual accounts and the total of all accounts. It’s also important to balance this truth with saving money overall. In that regard, you might want to focus on the cards that have higher interest rates and pay them down to that 30% threshold sooner rather than later. That way you’re making progress with all of them, but focusing more on the cards with higher interest rates. Hope this helps, and best wishes as you work to gain financial freedom!

        Virginia Alberino

        You said not to close an account,how about when you have an account 2 months and they close it on you.

          Emily Hale

          Hi Virginia,

          Without knowing the details, I can recommend contacting the credit card company you had your card with and see why they closed it. Another option is to apply for a new card, but as the post said, don’t apply for too many at once. Any of the options in the beginning of the post may be a good fit, including the Discover It Secured card. Hope this helps, and best of luck.

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