Q: I entered the U.S. under a refugee resettlement program a year ago. So I do not have any credit history. Within this time I have applied for two secured credit cards. One with $500 credit limit(opened since Jan 09)and the other with $1000 credit limit (opened 2 months before). Both these cards are from different banks. I use more than 80% of my credit limit each month and pay the balance in full. How long you think it takes to built an excellent credit history/score with the way I am currently using my cards?
A: In the past usually 18 to 24 months. Under the current economy it would like be a minimum of 24 months.
