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How does new credit work?

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Wiki User
August 23, 2005 11:47PM

Let me tell u this is a good question and I am the 1 who had my

fico score go from 565 to 703. U first have to get your credit

pulled from the three companys Transunion,Equifax and

Experian.After this is done then u can start your new credit line

by applying for a cheap credit card one that u have a credit limit

of $200-500 then just pay on that. Remember don't be late on any

payments,Or your credit score will go down.After about 6months the

will increase your credit limit.Then u will get more applications

in the mail from other credit companys.Thats the way u start ur

credit. Just remember if u pay off the credit limit in 1 yr.Then go

to another company they will almost give u the max for that

card.Hope this was helpful to u good luck.

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