About 15% of your credit score is based on the length of time since opening your first line of credit, also known as your “credit age”. This means the longer you have had credit, the better it is for your credit score.
It takes about 2 years of credit history for your credit age to start positively impacting your credit score and 7 years for your credit to be considered ‘mature’. This means it is imperative to start building credit as soon as you possibly can! The ideal age to sign up for your first credit card is when you turn 18, which is the legal age to start building credit.
Your credit age relies on the first credit card account you open. In order to constantly improve your credit age, and thus your credit score, you must keep your first credit account open. This means that you should never close the account or get it closed automatically (which will occur when the account is not used or paid off over a long period of time).
This is why your first credit card is the most important credit card you will ever own. When you sign up for your first credit card to start building credit, make sure it is a provider and credit card you’re comfortable holding on to!
If you’re ready to start building credit, Curu is here to help!
Sign up for Curu at curu.app or download on iPhone.
Once you sign up, Curu will automatically find the best credit card(s) for you using CardMatch™. From there, Curu will make sure you’re on the best path to credit score success by notifying you of any opportunities to properly build and improve your credit score.
If you have any credit related questions or want help with signing up for your first credit card, reach out to our customer success team at support@curucredit.com!
