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  • Official comment
    Stilt Team

    A secured credit card helps you build a credit score, but it is not the best type of credit product. As explained below, there are multiple components of building a score. You need both payment history, length of credit history and a good credit mix to increase your score faster.

    There are 5 major components of a credit score.

    1. Payment History - Based on a borrower’s payment history. This is the most important factor. Making regular payments on previous credit is very important. Try not to be late on your credit card and other credit payments.
    2. Credit Utilization - Make sure you don’t max out credit cards. It is important to maintain a good utilization rate (< 30% of your credit limits).
    3. Length of Credit History - It is important to show that you can consistently use credit responsibly that’s why you length of your oldest credit account is also matters.
    4. Credit Mix - Having different accounts and types credit accounts can show that you can manage different types of debts.
    5. New Credit - Low number of recent credit inquiries are important to show that you are not looking for credit all the time.

    You can build your score faster with multiple types of credit like unsecured credit cards, mortgages, unsecured personal loans etc. Most unsecured forms of credit are harder to come by as you don’t have a credit history (especially mortgages and auto loans).

    You can try to apply for an unsecured loan for a small amount to help you build your history faster. The interest that you pay on this loan will help you save many times over with a lower interest rate on future products.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. at rates lower than any other lender. Learn more about us on wikipedia or visit us at If you have any questions, send us an email at

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