Building credit and improving your credit score takes time. Your credit score is based on information in your credit report including your payment history, the amount you owe, your credit history, your applications for and use of new credit and the type of credit you use.
GO2bank reports your credit standing to the three major credit bureaus every month. Credit standing includes if you make your minimum payment in full and on time and if your card balance is low. A history of good credit standing can help build your credit.
Benefits of credit
A good credit score can help you acquire more credit and obtain credit at better interest rates. Good credit can also help when applying for an apartment or a job and may reduce security deposit requirements on new loans or services.