Improving Your Credit Rating
Credit and Debit Cards

How do you build up credit history?

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2013-08-06 00:29:25
2013-08-06 00:29:25

Your credit history is simply the period of time you have had open lines of credit. Say you had five credit cards and you kept them each for exactly one year and then closed each of them. You would have five credit years of history but most scoring systems would see that as one year of credit history. If you had one credit card account for one year and another for the subsequent year and so on for five years, you would also have five years of credit history, but, again, scoring systems would still see that as (more or less) one year of credit history. Now, if you had one credit card for five years, then the scoring systems would definitely see that as five yeas of credit history.

So, creditors and scoring systems look at how long you have maintained each line of credit and the longer the better.

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