Bridger PenningtonFund Launch & Investment Expert

How I built my credit in my twenties

19 Jun 2023 · 1 min

Watch on YouTube

0:31

In this brief personal‑finance video, the speaker outlines a systematic approach he used in his twenties to raise his credit score above 700. Every six months he opened one to three new credit‑card accounts, treated each card like a debit card by spending on it and then paying the full balance each month, thereby keeping utilization low while increasing the total number of accounts. Over a period of two to three years this strategy boosted his credit score sufficiently to qualify for rental properties.

Chapters

Here's exactly how I built my credit. Every 6 months, I opened up 1 to 3 new credit cards. I know this sounds crazy, but it worked. I would then receive those credit cards and start using them, and I would pay off the balances every single month. 6 months later, I would get another 2 credit cards. Another 6 months, I get another credit card. 2 of the largest contributing factors to your credit is number of accounts and utilization on those accounts. I use them like a debit card, but over about 2 to 3 years, my credit score jumped to well over 700, and I was able to go qualify now for rental properties.