CREDIT LIMIT $300 ---AVAILABLE CREDIT $204 NEED CREDIT SCORE BOOST

[Anonymous]

I have a mastercard It began with a $300 limit, I had it pretty much maxed, till i seen when i made $20-$50 over the minimal pmt, my score would rise...so I now have the balance at $95.00, and available credit of $204...

How do you juggle needing to use your CC some for good credit, but keeping it at the perfect balance so my score goes up not down? Where should I keep my balance on this card for the best credit score boost?

My scores right now are: EQ-624, EX-624,TU-642

Thanks

Message Edited by skye3312 on 09-05-2007 03:37 PM

[Anonymous]

Try to keep your utilization between 1% and 9%. So in this case $27. Or max $30. For optimum scoring results. Hard I know, but it will help your scores.

[Anonymous]

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skye3312 wrote:

I have a mastercard It began with a $300 limit

...

I now have the balance at $95.00

...

My scores right now are: EQ-624, EX-624,TU-642

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$95 on $300 is 31% util. Not terrible, but not ideal. As OWMF said, 1 to 9 is ideal. With a low limit CC, you have to REALLY fight and stay on top of it to completely game it. You might have to pay more than the amount due when the statement closes to ensure a balance of $27 or less gets reported to the CRAs.

First, is it Cap 1? I ask because there's another thing you have to fiddle to outfox them.

Do you and DH have any other CCs? If so, what are the balances and limits?

[MeganML84]

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Noah_Bodie wrote:

First, is it Cap 1? I ask because there's another thing you have to fiddle to outfox them.

What else do you need to do to "outfox" Crap 1? I have a card with them I am trying to optimize utilization with...

[Anonymous]

MeganML84 wrote:

What else do you need to do to "outfox" Crap 1? I have a card with them I am trying to optimize utilization with...

Capone is supposedly going to start reporting limits, but thus far they still ain't. To beat the fox at it's game, cash one of your convenience checks to max the card. In a few days, pay it back. This way a high balance equal to your credit limit will report.