Does bill me later builds credit?

[Joi]

I have no credit yet and find it hard to find to get approved, so I was wondering: does bill me later builds credit? Can I use instead of credit card?

[Darell]

Highly unlikely

It’s highly unlikely that bill me later agreements are reported to the credit bureaus, and hence won’t build your credit.

You’ll probably need to start with a secured credit card. Those are relatively easy to get because you pay a deposit which is held as held as collateral for the line of credit.

Use the card for regular purchases and pay the balance in full every month for about a year.

After a year you should be able to convert the secured card to a regular card.

[Tashia]

You’re not gonna get it anyway
Bill me later is actually a credit card, so like any other credit card – you’re not gonna get it w/o credit

[Derill]

Secured bank loan
Secured bank loans are also relatively easy to get, just like secured credit cards. They build credit just like CC.

If you can manage a secured credit card AND a secured loan – even better. Because they are different types of credit (installment vs. revolving), a combination of both is the best way to start building credit.

[007creditagent]

Late payments will hurt your credit score. 1. Keep accounts paid to date – Staying up to date on all other bills will help to maintain your credit score and show future lenders that you’re able to make payments on time.

[Author]

Posts