Improving your credit rating in the USA

[GoingRodeoBaby]

Hi,

My family and I relocated to Kansas last year and up to now have been renting a house. We have now decided to buy but are struggling to get a favourable mortgage. As we have only been here 8 months our credit rating is poor.

We have cars leased, one credit card and a store card, but it is a bit catch 22 - we cannot get more cards to improve our rating as our rating is poor!

Has anyone else come up against this and what did you do to improve your rating? All ideas gratefully received!

[italianmom]

From my experience it takes about 2 years to get a good credit. I think you are doing the right things assuming that you are paying off all your credit cards. I did have people telling me to have 2 credit cards. So maybe you should apply for 1 more. But mostly it just takes time.