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Try to build QS1 but have Care Credit w balance

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Anonymous
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Re: Try to build QS1 but have Care Credit w balance


@zerofire wrote:

Just because such and such is common advice does not mean that it should be used as a final answer to your credit problems. Now you can have balances report on your report and they are not sticky. The trick you heard about only having one card report should only be done to prepare for doing applications. In your case you only have two accounts so having both report will not even matter. I just did a spree with 5 accounts and all of them reported what I spent. Ended up getting either all or 4/5(still waiting for a proper answer on one). Now Capital One likes to see usage and the heavier the better for them so start charging your everyday expenses to the QS1. Don't go overboard buying everything in the store though since you do have to pay it off. In time you will get auto CLI's and can request some CLI's manually. Lastly as your score went past 700 you might have been better off with a regular Quicksilver as that has the same rewards and no annual fee. You might want to ask Capital One to PC you over.


+100

Message 21 of 22
Anonymous
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Re: Try to build QS1 but have Care Credit w balance


@Anonymous wrote:

For the score boost of only having 1 card report, you need to have 3 cards. The boost actually comes from having less than half of your cards reporting  a balance. If you only have 2 cards, you only have the option of 0 cards or half of the cards (not less than half) reporting, so you can't get the max boost. So I would say get a 3rd card as soon as your profile supports it.

 

I also agree the above is only necessary when you are planning to app for a card or a CLI.

 

Again, you can use the Cap1 card and pay it off a few days before the statement cut date and it will report 0 balance. The statement balance is almost always the balance reported to the CRAs monthly. Some people report paying off every few days, as soon as a purchase shows up. This is extreme overkill IMO. Just pay off each payday, or once a month, whatever works for you.

 

I also agree to run as much as you can through the Cap1. When my QS began as a Plat, it was only $300. I maxed it out and paid it off several times a month for that 1st 5 months. When I get my steps increase (I hadn't found myfico yet so I didn't know I could request sooner) I was upped to 3.3k. That's an 11x increase. 

 

 

 


Well said!

Message 22 of 22
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