Capital One Secured arrived today!!!

[enragedjerry]

So im excited to finally start all over again with the rebuilding of my credit. I opened up a capital one checkings acc and also applied for a secured card and to my surprised was approved. I needed to pah $99 to open it but instead i gave them $300, so long story short it arrived today and i just want to know what is the best and fastest method that will get me on the right track? If i spend $50 dollars every month should i PIF or what?

[Calistal]

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@enragedjerry wrote:
So im excited to finally start all over again with the rebuilding of my credit. I opened up a capital one checkings acc and also applied for a secured card and to my surprised was approved. I needed to pah $99 to open it but instead i gave them $300, so long story short it arrived today and i just want to know what is the best and fastest method that will get me on the right track? If i spend $50 dollars every month should i PIF or what?

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Congratulations on the new card!    

In regards to utilization - 1 - 9% of CL posted on statement date is ideal.  You can go higher than that through the month, so long as its paid before the statement posts.  Then - PIF after the statement posts.  

[enragedjerry]

Calistal sounds good. Thank you so much for the reply.

[Whitneyy]

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@enragedjerry wrote:
So im excited to finally start all over again with the rebuilding of my credit. I opened up a capital one checkings acc and also applied for a secured card and to my surprised was approved. I needed to pah $99 to open it but instead i gave them $300, so long story short it arrived today and i just want to know what is the best and fastest method that will get me on the right track? If i spend $50 dollars every month should i PIF or what?

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I've had the card since last April and what I can say is that I run a lot of money through it! I make two payments a month, more than the mininum and I let it report a balance. In November, I got an increase of $300 without even asking, just paying on time, and using it.

Hope this helps.

[alienfico]

Congratulations!!!!!  

[enragedjerry]

Thank you @alienfico

[seruby]

Cool.  Good job starting the rebuilding.   I got the cap 1 secured last March, put $49 down got a $200 limit.   About 2-3 months later, they bumped me up to $300.   Now I'm at $750.  Haven't put any extra to it except the initial $49.

[finallyfixingit]

Good for you. I just got my first unsecured line increase last week. It was $300.

[Anonymous]

This card can open so many doors for . Play the game the right way and you'll have "prime" cards in no time .

[Anonymous]

Congrats! Just Paid My Deposit now Waiting for the card! I had to pay $200 though.