How long does it take to build a strong credit history?

Deal Score0

I’m 24 yrs old, and at the beginning of 2007 (between February and April) I became a cosigner on my fiance’s auto loan, and got my first Discover credit card with a $ 300 limit. Around the middle of 2008 I got an Express Store credit card that started at $ 250 and just increased to $ 450-where it will stay and I will not allow it to raise anymore. For the past 5 years I’ve had ALL utilities (cable, electric, gas, etc.) in my name and paid everything on time. All of my credit cards and utility bills have been paid on time and we have NEVER been late on a car payment. Oh yeah, and I only have ONE negative on my credit report for $ 450 from almost 7 years ago and I will probably only open up one more credit card in the future and that will be it.

So, I guess that means I’m on the right track and my score has GREATLY improved it is up to 640-680 and still rising. But my question is:

How long will it take for my credit to be considered “sufficient credit history” as even now it is still considered “young” credit?

And, by paying everything on time and keeping my credit card balance low, how much does your credit actually raise every month, 6 months or year??

  1. Reply
    July 21, 2011 at 2:16 am

    First of all utilities don’t show on credit reports so all of them are doing you no good what so ever as far as credit is concerned.

    Scores are based on the following factors;

    1. Payment history 35%
    2. Time in bureau 15%
    3. Types of credit 10%
    4. New credit 10%
    5. Debt to credit ratio 30%

    For the very best score and profile people need 3-4 credit card accounts (revolving) with balances below 30% of their limits and 2 cars, boats, homes, motorcycles, computers, furniture or personal accounts (installment) all with good long payment history’s.

    You can raise your score 100-points easy simply by using a couple of credit cards for every day things each month and paying them off in full before the due dates.

    As far as having sufficient credit history that will depend on how long it takes you to get the correct mix of credit types and payment history.

    Sounds like your on the right track with your cards and auto loan keep it up for another years and you should be fine.

  2. Reply
    stan c
    July 21, 2011 at 2:33 am

    You got more than enough credit that you do not need any more. Your credit score should increase about every 12 months. You can also request your free credit reports from or call them toll free # 1-877-322-8228 for all 3 free report just to check everything out . If there’s something you’re not aware of, disputes it immediately.

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