quirkypixie wrote:
So today I bit the bullet for a hard hit on hubby's report........he has no revolving credit, and nothing recent so I applied for a Target card.........and got it!!!!!!!
I can now get a fico score.......this is a momentous occasion.
What is the best way to use the card to get CLI and fico score climb?
Also, how long does it take until the card reports to the CA and which ones do they report to?
Thanks everyone for all the suggestions!
First off, they (Target and others in general) will typically start to report within two weeks of receiving the card. Some CCs will start reporting before you get the card. Most every card reports to all 3 CRAs.
Per your CL, it doesn't matter if you have $200 or $20000, your FICO will remain the same. What determines a score change would be utilization. We always recommend using, or rather, let less than 10% report to the CRAs. Target will typically report right after your statement cuts. You can easily have a 800 FICO with only a couple CCs with $500 in total CLs for example. Seen that doen before. Reason we like higher CLs is you won't have to worry if more than $20 reports if your CLs total $50k, for example.
Finally, if you got the Target Red Card, your CL is $200. There's no strategy to getting that increased. DW got her's increased the first month but I had mine for 6-7 months and no LUV from them. I've read that some had theirs for 2 or more years and still stuck at $200. It is all computer generated and CSRs have no say on who or when it gets increased. Seems like the best way to get an increase is to use it and PIF and then not use it for several months. Typically the next increase is $500, then after that you are offered a Visa upgrade and CLIs come easily with that card. Just don't be late.
