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Low credit score, need a credit card.
So I'm a college student that has never had a credit card. I'm thinking I should start building up my credit, but I've been rejected twice already due to my LACK of credit.
Apparently my credit score is a 543, which is keeping me from being accepted. I have a job, but I JUST started it and only earn about 100/week.
I'm new to this so I have some questions:
- How long do I need to have and use a credit card for my credit score to go up? And how much does it go up?
- If I get a card, I plan on never buying something I won't be able to pay off at the end of the month (so as to not pay interest). Will this affect it? Also, is there a difference between buying something for $20 every month and paying it off and buying something for $100 and paying it off?
Now, each company that's rejected me offered to reconsider if I provide a guarantor's information. The only person that can do that for me is my mom, but she doesn't trust me too much (for no reason, really). What can I do to help change her mind? And is there any way that after a certain amount of time, I can remove her as my guarantor and only have the card in my name (so that if in the future I DO mess up, ti wont' affect her credit as well?)
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Want to answer more questions in the Work & School category?
Maybe give some free advice about: Personal Finance?
The only question I can answer in regards to this is that it doesn't matter how much you spend and then pay off at the end of each much. It'll all get counted the same. The only thing they look at is if you paid late or not.
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