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spicytacos

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Credit score is really low but just started?
I just got my first credit card and paid my first bill in full $450 (Limit is $500) but my credit score is a mere 560. how is it so low? I have ZERO bills to be paid. I have also obviously have no debt on the card either. So what and why is it so low?

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Top Contributor
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First, understand that if you nearly max out your credit card and that high balance is reported to your credit reports you will get dinged. Do some reading on credit utilization. You should not let a credit card report over 10% of its credit line if you are worried about your credit scores. The low scores is probably because $450 dollars was reported to the credit bureaus.

Second, it takes time. You are not going to build a good credit score in just one month. Please do some reading on what it takes to build and maintain good credit. If you are serious about wanting a good credit future you will spend the time reading, it is necessary.

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