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thin file

New Member

thin file

Hello i have a thin file. I just recieved a capital one secured card with $200 limit. If i use $100 and pay in full a few months with that get me a score. ???

Message 1 of 17
16 REPLIES
Valued Contributor

Re: thin file

You will have a score after that account has been open for at least six months yes.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 2 of 17
Super Contributor

Re: thin file


jimg1215 wrote:

Hello i have a thin file. I just recieved a capital one secured card with $200 limit. If i use $100 and pay in full a few months with that get me a score. ???


Welcome to the forum

Do you have any other TL's and if so when were they opened ....Example car,SL,loans etc ec 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 17
New Member

Re: thin file

I have nothing else. I havent used credit every. Also when looked at credut there was fraud but all was removed.
Message 4 of 17
Super Contributor

Re: thin file


jimg1215 wrote:
I have nothing else. I havent used credit every. Also when looked at credut there was fraud but all was removed.

If you have no other TL's it will take 6 months to build scores 

Tips to build scores

For the next 6 months use your card as much as you like BUT before the statement cuts pay down to 1-9% after statement cuts PIF=pay in full to avoid interest charges 

1-9% = <$20.00

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 17
New Member

Re: thin file

So use card and pay in full every month
Message 6 of 17
Super Contributor

Re: thin file


jimg1215 wrote:
So use card and pay in full every month

Yes but remember you don't want high balances reporting to the CB's 

So example if your statement cut date is the 24th 

Every month make sure all charges are paid on the 21st except leave $18.00 so that amount gets reported to CB's (1-9%)

Then on the 24th statement will cut and on the 25th pay the $18.00 off

Make sense? 

 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 7 of 17
New Member

Re: thin file

Ok my bill will generate the 10th. And balance is 104. So pay like 90.
Message 8 of 17
Super Contributor

Re: thin file


jimg1215 wrote:
Ok my bill will generate the 10th. And balance is 104. So pay like 90.

Ok so on the 7th pay the $90 

Then on the 11th pay the remainder $14 

Do this every month for 6 months for max Fico scoring 

 

Tip you can make multiple payments too if you like if you want to us your card more 

Charge $149 on the 23rd pay it all off to $0 on the 27th

30th charge $100 etc etc etc  

 

but always remember your 2 dates 7th pay leave small balance 11th pay the rest 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 17
New Member

Re: thin file

So pay before the bill even generates.
Message 10 of 17