I have started rebuilding my credit a couple months ago and got my first credit card 2 weeks ago. It is only a capital one secured card and its the only cc I have. It shows my payment due date as April 7th, is that the same as the statement date or is that a different thing altogether? I have this card strictly to help rebuild until I can get something better. It has a limit of $250 and I charged one thing for $16. Should I pay this now or wait until april 7th? I've read a lot about leaving a balance of less than 10% on one card and 0 for others but since I just have the one card should I still leave a small balance or no? I do have a fingerhut account as well that I opened the same time as my capital one card, that has a limit of $230 and the one item I purchased is now PIF so there are no monthly reports for that one. I never realized how important it is to have revolving credit, I never even heard the term revolving credit until I started cleaning up my credit reports back in january.
TU: 584
Pay $10 or so well before the 7th. Don't ever wait until the due date to pay a card or you might go late.
New goal 675So pay $10 now and then the $6 on the 7th or when? This is the part that is confusing. If I carry the balance of $6 then when should I pay that and since its my only card will that bump my score up when it reports?
You want at least one card showing a balance of less than 10%. If the Fingerhut has a balance, then pay in full the Cap 1.
If you;re trying to show a zero balance then you have to pay before the statement is cut. Call Cap 1 and ask on what day your statement will cut, that's the day they sent your bill. Since you already have your bill its too late, the $16 will be reported.
Ok, I understand now. Thanks starry1 
I will call them first thing in the morning and now I will know for next month.
No your statement will cut and be mailed to you before the 7Th. My due date is the 4Th but they send a statement aroud the 25th. I usually pay my bill around the 26-30 of that month. I can wait to pay late like the 2nd or 3rd cause i go to capital one to pay my bill and when you do it like that the payment will post that date at 12 midnight. I have had a cap one secureed card for 11months (750 limit) and just got approved for their cash reward card with 500 limit wish it was more but hey this time last year i couldnt get any credit card at all.
Congrats on your new card! I have 2 Cap1 cards and a Best Buy Cap1 card. I have paid on the due date several times before BUT I setup auto debit at least a week in advance for the due date. You definitely don't want to wait until the due date to make an auto debit request. There were a couple of times my Orchard Card charged me a late fee because the auto debit was scheduled on a Sunday but that late fee is computer generated and when the employees come in on Monday to process my payment, the late fee is deleted and my payment post date is set retroactive for Sunday. I did call them ahead of time before paying on the due date the first time to make sure it wouldn't be considered late. Most of the time, I pay a week in advance. I only pay on the due date sometimes IF it falls on a Friday, Sat, or Sun.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
@Phizzle wrote:The whole 9% theory really only matters if you are seeking more credit; therefore, I would only concentrate on my ratios the month I am seeking new credit, personally. Also, statement date =/= due date. I would recommend paying before the due date always. Find out when the statement date is and use it to your advantage when necessary.
Good luck!
+1
Just use the card and don't worry about utilization for now. On time payments should be your only worry for now.
DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 18000 - Chase Freedom VS: 5000