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Help w/CCs - Getting Scores Up

New Contributor

Help w/CCs - Getting Scores Up

I only have one cc. Do I need to let it report a very small balance each month or use it, go home and make payment and it report no balance?
Which way is the best to help my scores?
6-03-08 FICO TU 621 EX 630 EQ 595
7-23-08 FICO TU 648 EX 642 EQ 640
8-28-08 FICO TU 648
Message 1 of 3
2 REPLIES
Moderator Emeritus

Re: Help w/CCs - Getting Scores Up

You want total util to be between 1-9%. Find out when your card issuer reports and pay the balance down before that date.
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Message 2 of 3
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New Contributor

Re: Help w/CCs - Getting Scores Up



sidewinder wrote:
You want total util to be between 1-9%. Find out when your card issuer reports and pay the balance down before that date.



I just got the cc in June and havent used it yet. I have paid the annual fee already. I didnt need the cc except for the mix of credit. I guess I'll use it to grab a burger for lunch once a month so they'll be a small balance reporting monthly and that will keep my util very low. Am I on the right track? Thanks!
6-03-08 FICO TU 621 EX 630 EQ 595
7-23-08 FICO TU 648 EX 642 EQ 640
8-28-08 FICO TU 648
Message 3 of 3