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New Member
Posts: 2
Registered: ‎03-14-2012
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Best way to build credit

I'm starting to rebuild my credit slowly with a secured credit card. When it comes to paying it off what's a better way to build the credit. Is it better to buy a tank of gas with it then pay the balance off in full once the statement comes in or is it better to buy a tank of gas and just pay the monthly payments until its at a balance of 0 and then repeat?

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Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Best way to build credit

FICO does not like to see all CC reporting a 0 balance.  Use it but let only 9% or below report on your CR.  You will need to know when they update with the CRAs and may need to experiment on getting it paid before it does.

New Member
Posts: 2
Registered: ‎03-14-2012
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Re: Best way to build credit

How would I go about finding out when they report the CRAs

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Current Score: 544
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Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Best way to build credit

Call and ask or look at your CR and see when they reported.  It will tell you on the TL.

Valued Contributor
Posts: 1,761
Registered: ‎07-12-2012
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Re: Best way to build credit

Can I tag in here and ask a quick question? Is there certain time periods of gardening that you will see bumps? For example an inquiry loses some effect at the one year mark.. Thanks for the help, sorry to hijack but I felt it was a good question

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Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Best way to build credit

That would depend, like everything else. on what else is on your CR.

 

I had 7 fall off and never saw any increase.

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