11-05-2012 07:02 AM
So I got 2 new secured cards about 3 weeks ago and I have used them for a few things. here are the details:
Creditor Limit Balance Reporting Date Deposit First Due Date
Wells Fargo: $300 $55.00 11/10/12 $300 Dec 4,2012
Capital One: $200 $29.00 11/12/12 $ 99 Dec 12,2012
So ok thats the details what should I pay tomorrow on both? I want to see how high my score will go! I am using credit Karma. Should I pay $28 to wels fargo leaving $27 owed? (9% utizilation?) or less or should i pay off capital one tommorw? What would be the best thing to do? My score now is zero. 19 years old on my transunion report i have 3 inquirys Discover, Wells Fargo, Wells Fargo I applied 2 times one for unsecured and then secured. Then Experian I have 2, Capital One then credit union equifax I dont have a report generated yet...
11-05-2012 07:22 AM
Pay the cards on time and don't use more than 30% of your credit line. That's all you need to do. You should have a credit score within 6 months from the date you opened the cards. Good luck!
11-05-2012 07:24 AM
Personally I'd PIF them both. I do believe I understand what you're trying to do, so pay one off and leave $2 on the the other one to report.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO