Credit Cards

[staces6]

My husband and I both just got new cards to boost our credit scores. We had not had credit cards in about 5 years and were told by our mortgage broker we needed some to get the boost in scores to get a good rate. So, tell me how to best do that? Hubby got a walmart card with a $500 limit and I got a BOA secured card for $300. What amount should we put on these cards? and do we pay them off in full every month or leave some balance? Any advice would be awesome! We need about 30 points each in the next couple of months. Thanks

[fusioncredit]

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staces6 wrote:

My husband and I both just got new cards to boost our credit scores. We had not had credit cards in about 5 years and were told by our mortgage broker we needed some to get the boost in scores to get a good rate. So, tell me how to best do that? Hubby got a walmart card with a $500 limit and I got a BOA secured card for $300. What amount should we put on these cards? and do we pay them off in full every month or leave some balance? Any advice would be awesome! We need about 30 points each in the next couple of months. Thanks

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I would PIF and how does each of your credit history look like? 

[pizzadude]

So are you saying that both you and your husband didn't have any open Credit cards prior to opening these ?

[ptr2593]

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staces6 wrote:

My husband and I both just got new cards to boost our credit scores. We had not had credit cards in about 5 years and were told by our mortgage broker we needed some to get the boost in scores to get a good rate. So, tell me how to best do that? Hubby got a walmart card with a $500 limit and I got a BOA secured card for $300. What amount should we put on these cards? and do we pay them off in full every month or leave some balance? Any advice would be awesome! We need about 30 points each in the next couple of months. Thanks

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How much you spend on the cards won't affect your score at all.  Just don't pay late, and when you need the 30+ points, make sure you have a low balance, or no balance.

[staces6]

Correct, no cards before these. Ive read to carry like a 30% balance or something so just wanting to make sure i do things right to help our credit

[fusioncredit]

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staces6 wrote:

Correct, no cards before these. Ive read to carry like a 30% balance or something so just wanting to make sure i do things right to help our credit

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Ideally under 10% would be good...do either of you have anything negative on the reports?