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They keep telling me account must be opened for 6 months to be considered for an increase
@Anonymous wrote:
Ha ha thank you actually I was going to follow the 10 percent rule, so 10 percent of $700 is $70 to keep card active and at a low utilization level...
Or maybe just stop charging for once... Lol
What about you?
LoL! I rotate my cards regularly. I bought a nice multi-card wallet from TUMI earlier this year and that bad boy holds all the cards. It is heavy & It's getting pretty thick. It stays in the crib and is tucked away. Definitely, the 10% rule would work on a limit of 700.00. I would say, even 15%. Pay down to 5%, or PIF...if that is your only LoC.
I always say, never charge over 50% of your available LoC, beause it can really start to get away from you at that point, if you have no discipline.
With multiple lines of credit, you have to be really disciplined, because you can really do some damage to your credit life if you just start charging and forget to pay.
If anyone out there is a rebuilder, I'd say, get in the habit of Paying In Full. That way, once bigger lines of credit become available to you, you have already establised a foundation on how to handle your bills.
wow thats cool, you also have a lot of credit thats great.