04-13-2013 03:44 AM
04-13-2013 03:58 AM
Increasing your credit limit will help your utilization. For scoring purposes you need to keep your UTL between 1%-9%.
Is this your only card?
Do you pay in full every month or carry a balance?
04-13-2013 04:26 AM
04-13-2013 04:35 AM
Yes, its my only card. I have that and a share secured installment loan for $1K with Andrews Fed. Credit Union. It reports as secured but I havent miss a payment on either one. The funds added should take my utilization down to 40%. How many, if any, points will my fico increase?
04-13-2013 05:20 AM
04-13-2013 05:42 AM
Oh okay. If I can get down to that 1-9% utilization before my statement reporting date of 5/18 (cant do 4/18 after funds for increase) will that score bump show by the first week of June? Im looking to apply for a auto loan with my credit union at that time. Im currently at 583 EQ fico and trying to hit 600s before then.
It depends on the reporting date of your card. You can look on your credit report to determine when they report or you can call Cap One and ask them what day they will report to the credit bureau. Pay it down before they report it.
04-13-2013 10:02 AM
04-13-2013 10:32 AM
The 18th must be your statement date. They usually report then or a day or so after.
I use the Equifax site to pull my CR and it shows the reporting date for each card.
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