Rebuilding Question - 10% utilization question

0REDSOX7 — Fri, 07 Mar 2014 21:11:52 GMT

So, here's my question.

My local CU is going to give me a secured Visa (1500) with cash back!!!!! It will move to an unsecured card after 18 months.

Now, with that siad. My plan is to use this to pay for my children's daycare (250/week) and just pay it at the end of the month. Yes, this is over the 10% utilization - but, if I am not planning on using my credit for anything soon, but just want to establish history, does it matter if I let it close at more than 10% of the CL?

Just curious.

Obviously when I get closer to a house or whatnot, then I will do the three cards, two at zero balance and one at less than 10% - but for now, does it matter as long as I don't go over it?

I currently pay my children's daycare with a check each week - so the funds are there - and would simply move the amout to savings and let the CU auto debit the total amount due every month.

Just curious...

Re: Rebuilding Question - 10% utilization question

gdale6 — Sat, 08 Mar 2014 00:32:29 GMT

@0REDSOX7 wrote:
So, here's my question.

My local CU is going to give me a secured Visa (1500) with cash back!!!!! It will move to an unsecured card after 18 months.

Now, with that siad. My plan is to use this to pay for my children's daycare (250/week) and just pay it at the end of the month. Yes, this is over the 10% utilization - but, if I am not planning on using my credit for anything soon, but just want to establish history, does it matter if I let it close at more than 10% of the CL?

Just curious.

Obviously when I get closer to a house or whatnot, then I will do the three cards, two at zero balance and one at less than 10% - but for now, does it matter as long as I don't go over it?

I currently pay my children's daycare with a check each week - so the funds are there - and would simply move the amout to savings and let the CU auto debit the total amount due every month.

Just curious...

Matters not if you do not intend to app for more credit you will build credit no matter what percent of util reports.

topic Re: Rebuilding Question - 10% utilization question in Rebuilding Your Credit

Rebuilding Question - 10% utilization question

Re: Rebuilding Question - 10% utilization question