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How long does it take to establish your first credit score?

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ngpf.org 9/24/24

Q:

MANAGING CREDIT

QUESTION OF THE DAY

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A:

QUESTION OF THE DAY

Source: Capital One

MANAGING CREDIT

3-6 months

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FOLLOW-UP QUESTIONS

  1. Why do you think credit reporting agencies want you to have 3-6 months of history to get a score?
  2. After your first 6 months of managing credit, how do you think your ability to borrow money would compare to someone with years of credit history?
  3. What are some good habits you would practice in order to make sure you improve your credit score once it’s established?