01-08-2013 07:50 AM
I have a secured card through Capital One that has a $400 CL right now. I use it and pay it off every month. I have recurring charges that will charge to it like my car insurance, Hulu/Netflix, Internet/TV, etc - that's basically all that I use it for. The total of all of those recurring charges run the balance up to about $275. I find that it seems to always have a balance when the CRA's pull - which drives my utilization up and costs me points. What's the best way to cause a point increase? Should I increase the CL on this card so that it's not eating up as much of a % to have a balance on the date the CRA's pull? The only problem is that the secured card through Capital One never graduates to unsecured, so any deposit I put on to increase the credit limit - I never get that back until I close the account. I have been "gardening" ever since I bought my Jeep in July, and it seems that the only times I lose points - it's for the utilization % on this card.
01-08-2013 08:19 AM
I have a Cap One Secure Platinum Card and it posts to my credit report on the day the new statement is cut. I PIF each month and try not to use it until after the statement cuts (though I will use it to buy lunch or something, so a small amount will report).