I'm 18, and I recently applied for a Credit Card at Bank of America. I applied for the BankAmericacard Cash Rewards Platinum Plus Visa, I got approved for a credit line of $700, I was wondering how much of that I should be using.. I've read 30% of it, I pay my Internet/Cable bill which comes out to $119, the account isn't under my name though, should I pay it with my credit card to start building credit?

For example, I pay the bill with the credit card and then pay the credit card immediately.


I read the link to the other answer, I would only add that in paying the card in full they will report the current balance monthly. Don't worry about this, just reduce your use of the card in advance of applying for more credit, that way you'll have the credit history you need and the boost from the low utilization when you are ready to apply for more.

I'd also recommend getting an overdraft protection line of credit on your checking account so that your average age of credit will be affected less by any new accounts that you bring on in the coming years (more lines that are older will have a heavier weight on the average age.)

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.