Moderator Emeritus
Posts: 14,526
Registered: ‎07-14-2009

Re: Building Credit: PenFed Secured or Another Card?

[ Edited ]


surnailz wrote:



Now that makes sense!  So paying in full every month is the best way to handle a card, whether secured or unsecured it sounds like.  I was under the impression before that it was only your statements that actually post to the agencies.  So from what you're saying, if I have a $1000 limit then I should only use about $90 of it and pay it off right away, every time.  Then go ahead and put more on it and pay it off again, not going above that magic util percentage.  This seems to preclude me from using it like a debit card.  I guess I'll have to get one or two more when the time is right.


Speaking of which, when should I go for my next card?  Six months?  A year?  More?


And thanks for the welcome!  I should have said that I was new.  Thanks for the help and clarification!





You can use it as much as you want but just make sure you know when your statement posts each month so you can time how much balance shows on that statement. What is on the monthly statement is what reports to the CRA's.



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New Member
Posts: 6
Registered: ‎04-12-2010

Re: Building Credit: PenFed Secured or Another Card?

Always good to get corroborating advice!  I guess that means I can focus on just the one card for now, which is quite the relief.




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