Rebuilding Your Credit

[slugshot_90]

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?

[guiness56]

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.

[slugshot_90]

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

[guiness56]

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

[Scupra]

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

[guiness56]

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

I had 7 fall off and never saw any increase.