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New Contributor
ziggytx
Posts: 71
Registered: ‎05-19-2009
0

my first credit card reported

So, i have a Wells Fargo Secured Visa..

and today, 20 days after receiving the card, it reported, 300 limit, 259 used 40 available credit...

 

 

My Q is, will they report again after they receive my payment, or will i have to deal with the high utilization until next statement??

 

 and why would they report before giving my a chance to pay? my payment isn't due until the 13 of next month, and the statement was just released today...

5/26/09 EQ547 TU539
6/10/09 EQ553 TU533
7/22/09 EQ588 TU633
Established Contributor
Brusilov
Posts: 611
Registered: ‎01-04-2009
0

Re: my first credit card reported

For me every month like clockwork they will report on the end of the statement date, and not any other time that I've experienced.  I usually make at least 2 full payments a month, usually one right before the statement date.  They did the same thing to me when I first got the card...reported right away before I even had recieved it.
                    
    $17.3K          $500              $7K              $15K              $5K             $2300          $3200          $2000          $1500          $1000           $8100

Garden Since: 9.25.2013
New Contributor
ziggytx
Posts: 71
Registered: ‎05-19-2009
0

Re: my first credit card reported

that kinda stinks, i wish i woulda had a warning, so i can pif and show 0% UTIL, well, i have an orchard card, and ive read about howthey report so i can start with them at low util.. then keep this one at 0% before next statement and then all those credit cards who denied me will start sending me pre-approved letters and i can laugh as i tear them up muwahaha ha ha
5/26/09 EQ547 TU539
6/10/09 EQ553 TU533
7/22/09 EQ588 TU633
Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: my first credit card reported


ziggytx wrote:
that kinda stinks, i wish i woulda had a warning, so i can pif and show 0% UTIL, well, i have an orchard card, and ive read about howthey report so i can start with them at low util.. then keep this one at 0% before next statement and then all those credit cards who denied me will start sending me pre-approved letters and i can laugh as i tear them up muwahaha ha ha

Umm you are getting way too ahead of yourself.

 

You are obviously rebuilding.

 

You should not be putting that much on your new, secured, rebuilder cards anyway.

Your utilization only matters when you are about to app somehwere else since your fico is compiled from a snapshot of that second.

 

You are rebuilding. You are not getting a 15K limit tomorrow.

 

Pay your utilization down.


Don't go over a reasonable percentage anymore and let the big thing that will effect your FiCO happen...and that thing is time.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
New Contributor
ziggytx
Posts: 71
Registered: ‎05-19-2009
0

Re: my first credit card reported

touche. 
5/26/09 EQ547 TU539
6/10/09 EQ553 TU533
7/22/09 EQ588 TU633

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