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Frequent Contributor
Posts: 287
Registered: ‎02-29-2008
0

APPLIED BANK, PUBLIC SAVINGS BANK

I have 2 secured credit cards,  Applied and Public Savings.  Applied Bank reports to TU and EX.  Public Savings reports to TU, EX, EQ.  Both have $200 limits.  My questions are 1) What should I keep the uti on each card?  2) Do I need to have higher limits?  I am trying to have higher credit score .

Fico Scores :03/12/2015 Equifax 565, Transunion 585, Experian 563
Current Fico Scores 12/15/2015 EQ 612, TU 645, EX 655
Kay Jewelers 4000/Barclays MC 1300/ Firestone1200/ Cap1 Quicksilver 2300/ NFCU nrewards secured 600/ Macys 600/ Walmart 3500/ Amazon 3500/ Cap 1 Journey 1050/ Kohls 300/ Banana Republic 3500/ Texaco 890/ BP 2000/ Jcrew 250/ Victoria Secrets 250/ Eddie Bauer 250/ Marisota 500/ SimplyBe 500/ Discount Tires 500/ Care Credit 1000/ American Eagle 150/ QVC 2000
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: APPLIED BANK, PUBLIC SAVINGS BANK

[ Edited ]

Those are very low limits.  Low limits do not inspire confidence and lead to more low limits. 

 

I would increase the limit as much as you can afford on the Public Savings Bank card.   You can keep this card for a long time with no annual fee. 

 

The fees on the Applied card and the no grace period make this card very expensive, so you should drop it when you get something better.

 

 What & When is your next applicaiton?

Frequent Contributor
Posts: 287
Registered: ‎02-29-2008
0

Re: APPLIED BANK, PUBLIC SAVINGS BANK

Not sure what you are asking.  Application for what? 

Fico Scores :03/12/2015 Equifax 565, Transunion 585, Experian 563
Current Fico Scores 12/15/2015 EQ 612, TU 645, EX 655
Kay Jewelers 4000/Barclays MC 1300/ Firestone1200/ Cap1 Quicksilver 2300/ NFCU nrewards secured 600/ Macys 600/ Walmart 3500/ Amazon 3500/ Cap 1 Journey 1050/ Kohls 300/ Banana Republic 3500/ Texaco 890/ BP 2000/ Jcrew 250/ Victoria Secrets 250/ Eddie Bauer 250/ Marisota 500/ SimplyBe 500/ Discount Tires 500/ Care Credit 1000/ American Eagle 150/ QVC 2000
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: APPLIED BANK, PUBLIC SAVINGS BANK

Your FICO score does not matter until you are applying for more credit.   I only worry about utilization when I am ready to apply for next credit. .

Frequent Contributor
Posts: 287
Registered: ‎02-29-2008
0

Re: APPLIED BANK, PUBLIC SAVINGS BANK

My goal is to raise my score to eventually buy a house.

Fico Scores :03/12/2015 Equifax 565, Transunion 585, Experian 563
Current Fico Scores 12/15/2015 EQ 612, TU 645, EX 655
Kay Jewelers 4000/Barclays MC 1300/ Firestone1200/ Cap1 Quicksilver 2300/ NFCU nrewards secured 600/ Macys 600/ Walmart 3500/ Amazon 3500/ Cap 1 Journey 1050/ Kohls 300/ Banana Republic 3500/ Texaco 890/ BP 2000/ Jcrew 250/ Victoria Secrets 250/ Eddie Bauer 250/ Marisota 500/ SimplyBe 500/ Discount Tires 500/ Care Credit 1000/ American Eagle 150/ QVC 2000
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Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: APPLIED BANK, PUBLIC SAVINGS BANK

In the building stages, use your cards as much as you comfortably can.    The most important thing is never be late, never go over limit.  You are trying to build a history of responsible use. 

 

You should plan to add some better cards to your portfolio over time.  Plan ahead and whenever you are applying credit,  your utilization should be low for best FICO at that time.    

 

Since the Applied Bank, has no grace period, I would charge it up for a few days and then make a payment to reducle interest charges.    I would use the PSB as my main card  and PIF by due date.   

 

 

I started rebuilding with 2 secured cards last fall (PSB and HSBC) , I plan to apply for 1 new card every 6 months or so. 

 

 

 

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