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Increase Secured Card Limits or No

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CostantinoA
Established Contributor

Re: Increase Secured Card Limits or No

Paying off the amount charged before the bill cycles is ok with the bank?  When asking for credit limit increase, they would question it as you never offically have a payment due?

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387
Message 11 of 15
Anonymous
Not applicable

Re: Increase Secured Card Limits or No

I started my quicksilver account in Dec.
I've paid several times per month and had it cut a zero balance since I opened it. I've received $1500 cli since Dec.
Message 12 of 15
Anonymous
Not applicable

Re: Increase Secured Card Limits or No

I have about a dozen CC's I use every month, however, I PIF every card prior to my statement closing date except for one card, but I still pay that card down to under 9% UTI. So all my CR's all show 0 BAL every month except for the single card I choose to leave under 9% on.
Message 13 of 15
CostantinoA
Established Contributor

Re: Increase Secured Card Limits or No

If under 10% is a excellent way to have your FICO score the highest, then what difference would it make if you kept all at 9% and let them report.  Why one 1 reporting 9%.  I am trying to understand.  Not being difficult. I want to have the max FICO score I can at all times, especially since I am applying for a new auto loan 09-2015.

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387
Message 14 of 15
Anonymous
Not applicable

Re: Increase Secured Card Limits or No


@CostantinoA wrote:

If under 10% is a excellent way to have your FICO score the highest, then what difference would it make if you kept all at 9% and let them report.  Why one 1 reporting 9%.  I am trying to understand.  Not being difficult. I want to have the max FICO score I can at all times, especially since I am applying for a new auto loan 09-2015.


Because FICO dings your score for multiple cards (its not precisely stated but believed to be more than 1/3 to 1/2 of your cards) carrying a balance - even a small balance.

 

 

Message 15 of 15
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