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credit steps inrease!

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Anonymous
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credit steps inrease!

Woohoo! Got an increase of 200.00. This was my fifth statement. I was hoping for more but it is still good. My scores went up a few points not much on TU. My score was 569 it is now 571.
Message 1 of 14
13 REPLIES 13
Anonymous
Not applicable

Re: credit steps inrease!

Congrats. How much did you use the card? I'm wondering if more use and paying as soon as the charge posts would give a bigger CLI?
Message 2 of 14
Kirmie2010
Established Contributor

Re: credit steps inrease!

Woo congratulations!

 

Usage doesnt matter much its more based on your credit report. (IMHO)

My friend, wife and I all got cap one cards about the same time all in credit steps.  I used the card heavily my wife used hers not much at all, we both got 200 increases.  My friend got a 2000 increase, he put maybe 200 through it before the CLI.  (she had a thin file, I have bad credit, my friends credit was pretty much blank but long AAoA from student loans and cards from years and years ago) We all got it on our 7th statements.  

Message 3 of 14
lg8302ch
Senior Contributor

Re: credit steps inrease!

Congrats!  Any CLI amount is always great and keep doing what you do now. It will move upwards...slowly but surely.. all it takes is time and patience mixed with responsible usage and good payment history Smiley Happy

Message 4 of 14
lg8302ch
Senior Contributor

Re: credit steps inrease!


@Anonymous wrote:
Congrats. How much did you use the card? I'm wondering if more use and paying as soon as the charge posts would give a bigger CLI?

Welcome to the forum

What you can do is use the CCs  for everything you would use the debit card for or pay cash. Like this you create usage without spending more.Smiley Happy  But make sure you keep track of your spending and have the money available when it comes to paying  the bill!  Do not buy anything that you would not buy with cash or debit card. There is no need to pay each time a transaction posts unless you have difficulty to keep track of your spending. What you  want to make sure though is that before the statement gets cut pay down to at least 30% (for best scoring to 1-9%) and let this amount cut on your statement and report to the CRAs. There are two important dates to know from each credit card: the date your statement gets cut and the due date.

Every lender likes usage even for small amounts as they earn money from swipe fees. This is something that does not cost you any money Smiley Happy not like if you do not pay the full statement balance and then a ton of interest gets added.  My recommendation is always apply the PIF strategy ..use the CCs to your advantage but avoid interest whenever you can by paying the full statement balance before the due date.

Message 5 of 14
Anonymous
Not applicable

Re: credit steps inrease!

I used it a few times a month but did not PIF.
Message 6 of 14
Anonymous
Not applicable

Re: credit steps inrease!

Thanks. I will keep paying on time. My score is only 571 according to capital one credit scoring with transunion.
Message 7 of 14
Anonymous
Not applicable

Re: credit steps inrease!

I didn't think I would get a big increase due to the low score. I did wish for it! Lol
Message 8 of 14
Kirmie2010
Established Contributor

Re: credit steps inrease!

Capital Ones credit tracker Smiley Sad

Currently shows me at 578.

My true Ficos are 643, 652 and 65something.

 

Atleast credit Karma says 606 and 603, thats atleast within 50.

Message 9 of 14
Anonymous
Not applicable

Re: credit steps inrease!

Thanks lg, that's what I've been doing. I'll use the card then pay it down every couple weeks. And yes I've figured out the day the statement cuts!
Message 10 of 14
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