@Anonymous wrote:I just got my first credit card. It has a $300 dollar limit. Of course it didnt show on my CR until I got my first bill. At that time, with the initial $75 fee, and a couple of charges the balance was $126. Am I right in thinking that utilization that will be reflected on my CR will be the balance as of the next bill? I plan to keep it in the 20% range and build the score until I can get a second card, then keep the total utilization somewhere in that range (unless lower is suggested). I just want to know if it's ok to carry a higher balance as long as it it at 20% at billing time.
Not a problem at all. Utilization is only measured by what's reported to the bureaus, and at your stage in the process don't worry about it at all. Establish a few more accounts, and then don't miss or ever be late with a payment. Personally I'd open those accounts sooner rather than laters, no sense leaving payment history on the floor while time is passing (which is the only constant in the algorithm sort of like life heh).
Heh, likewise don't sweat score or inquiries right now. Going on a small spree is the right thing to do when first starting as the biggest mistake I think people make is not getting enough tradelines to start. 3 or maybe a few more is plenty for now as most of the lines aren't very good or are of the secured variety but pretty much anything helps for the moment.
IF you have two bogus collections coming off I'd hang out as you suggest, but look at credit score building as a long term endeavour even though it's hard. I'm having a hard time sitting on my hands thinking past my mortgage at this point (like seriously, the cards don't rate in comparison and they'll still be there post-keys-in-hand) even so I can empathize.
Usually I don't have this problem but I'm getting antsy 
.
