APPLIED BANK, PUBLIC SAVINGS BANK

[lindel]

I have 2 secured credit cards,  Applied and Public Savings.  Applied Bank reports to TU and EX.  Public Savings reports to TU, EX, EQ.  Both have $200 limits.  My questions are 1) What should I keep the uti on each card?  2) Do I need to have higher limits?  I am trying to have higher credit score .

[Wolf3]

Those are very low limits.  Low limits do not inspire confidence and lead to more low limits. 

I would increase the limit as much as you can afford on the Public Savings Bank card.   You can keep this card for a long time with no annual fee. 

The fees on the Applied card and the no grace period make this card very expensive, so you should drop it when you get something better.

 What & When is your next applicaiton?

[lindel]

Not sure what you are asking.  Application for what? 

[Wolf3]

Your FICO score does not matter until you are applying for more credit.   I only worry about utilization when I am ready to apply for next credit. .

[lindel]

My goal is to raise my score to eventually buy a house.

[Wolf3]

In the building stages, use your cards as much as you comfortably can.    The most important thing is never be late, never go over limit.  You are trying to build a history of responsible use. 

You should plan to add some better cards to your portfolio over time.  Plan ahead and whenever you are applying credit,  your utilization should be low for best FICO at that time.    

Since the Applied Bank, has no grace period, I would charge it up for a few days and then make a payment to reducle interest charges.    I would use the PSB as my main card  and PIF by due date.   

I started rebuilding with 2 secured cards last fall (PSB and HSBC) , I plan to apply for 1 new card every 6 months or so.