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Help with my building cards?

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Legions36
Frequent Contributor

Help with my building cards?

I have a question about my building cards. Going on 3months of on time payments on all 4 of my builder cards. My question is does it matter if all 4 report balances right now? I dont care what my scores look like now but when im ready to get good cards latter which is the best way to do it? Do i just let all 4 report, do i let 1 report while using all 4, do i let 2 report while letting all report? I don't care if i get charged interest plus, but every payment will be paid on time which ever way to go.

Heres the cards and limits: Credit1 $300limit, Orchard bank $300, First Premier $300, and Cap1 $200(secured)[i know that i will end up depositing 3k before the year is done to get better lines when im ready.

EQ-784 TU-777 EXP-772 12/11/15

NFCU(11.5k), USAA(6k), DCU(10k), Sapphire(5k), Duck(5k), Freedom(1k), Quicksilver(3k), DiscoverIT(2k), AmexBCE($800),
New cards 12/12-NFCU-MC(18.5k), Simplicity(9.2k),Slate(7.5k),Amex(3.8k)
Message 1 of 4
3 REPLIES 3
bahbahd
Established Contributor

Re: Help with my building cards?

I believe even months where you have $0 balances the OC will report as paid OK as agrees. What your utility right now does not matter in the future. The month before you want to apply for new credit, pay off 3 cards down to $0 and keep one card with a 8% or so dollar amount of either that card of your entire CC credit total. (I have heard both.)  It seems like you want low total utilization of entire credit, so, I'd guess around 10% used on the highest limit card would be a good balance to keep.

Message 2 of 4
Legions36
Frequent Contributor

Re: Help with my building cards?


@bahbahd wrote:

I believe even months where you have $0 balances the OC will report as paid OK as agrees. What your utility right now does not matter in the future. The month before you want to apply for new credit, pay off 3 cards down to $0 and keep one card with a 8% or so dollar amount of either that card of your entire CC credit total. (I have heard both.)  It seems like you want low total utilization of entire credit, so, I'd guess around 10% used on the highest limit card would be a good balance to keep.


Thanks, i didn't really know the exact best approach to go about.

EQ-784 TU-777 EXP-772 12/11/15

NFCU(11.5k), USAA(6k), DCU(10k), Sapphire(5k), Duck(5k), Freedom(1k), Quicksilver(3k), DiscoverIT(2k), AmexBCE($800),
New cards 12/12-NFCU-MC(18.5k), Simplicity(9.2k),Slate(7.5k),Amex(3.8k)
Message 3 of 4
nicholasyud
Valued Contributor

Re: Help with my building cards?


Legions36 wrote: Credit1 $300limit, Orchard bank $300, First Premier $300, and Cap1 $200(secured)[i know that i will end up depositing 3k before the year is done to get better lines when im ready.

 

 

I think you should just used only $50 for all of your card.yeah i mean ALL of your card. (ALL) . 10% = 80 and less.  so its seem like a couples buck on each card and make sure you paid them in full every months.Also take a look at your report to make sure they report to all credit bureaus. Not only for your purpose apply for a good card later on but also help for your credit score because you have UTI less than 9%. Hope this help.

Starting Score: 560
Current Score: ?
Goal Score: 800
Message 4 of 4
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