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Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
0

Re: Is this a good idea?

Allowing a small balance to report demonstrates to FICO scoring that you know how to use credit responsibly. Carrying a $0 balance demonstrates to FICO scoring that you are afraid of your credit.
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Do what is true in spite of the consequences--your future is only as true as you are.
New Contributor
Michelle27
Posts: 60
Registered: ‎08-30-2007
0

Re: Is this a good idea?

Ok thanks for helping me as you can see im just now trying to rebuild my credit and i just needed a little bit of advice. do you have credit cards? how much do u charge a month? ty
4-11-08

FAKOS EQ: 555 EX: 579 TU: 558 FICO EQ: 562



6-17-2008 FICOS TU: 573 EQ: 523 EX: 561
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
0

Re: Is this a good idea?

I do. I have started my rebuild recently as well and have obtained three CCs to date. I want one or two more and that's enough for me. I charge everything and then pay it off several times per month. I will use up to my limit and pay off to $0 and then repeat the process once or twice more during the month. I would say about $3000. However, I am now very careful about uti %. I just let 5% report and received a 71 point increase to 790 on EQ this month.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
New Contributor
Michelle27
Posts: 60
Registered: ‎08-30-2007
0

Re: Is this a good idea?

wow congrats on that your almost in the 800's you should be able to get anything now, i cant wait to see my scores up that high mine are actually lower now cause i went on an application spree, but hopefully with this card i can build my credit and be in the 700's real soon
4-11-08

FAKOS EQ: 555 EX: 579 TU: 558 FICO EQ: 562



6-17-2008 FICOS TU: 573 EQ: 523 EX: 561

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