Awsome, is this normal?

[Anonymous]

I just received a Credit One Bank card for $300 in 01/16. I used about $297 on it when I first got it and paid it all off within the first two weeks of getting it ( around the end of January). I added small bills to it such as Hulu, Netflix, My Fico, etc. Now I have a balance of $59.35. My due dates are the 15th of every month so my next payment of $25 is due 3/15. When I logged into my account today (2/20/16) I noticed the new statement has started and my credti limit was at $450 now. I wasnt sure if this was ture or a mistake. So I called the 800 number and the first thing I got was a recording saying "Congradulations your credit limit has incresed by $150. I only had the card for one month. This is my first card in years since I am trying to rebuild my credit. Has this happend to anyone else.

Thanks

[Anonymous]

Congrats on the CLI.  Yes, it does happen with Credit One, they are probably trying to encourage you to use it heavily hence the increase. So no surprise here really..

[Anonymous]

Thanks, Is it safe to use my CC again? I was online and this is what it states. "Detailed below is your statement information for the billing period ending Friday, February 19, 2016.The ending balance is $59. It still has not been reported to the Bureaus yet, today is the 5th day after my due date of 2/15. My question is if it gets reported will it be reported with the $59 balance or if I use it today and add more money will these new charges be reported along with the $59. Thanks

[Creditwiser]

Be very careful with that card.  If used properly it will help you in your rebuild but understand they are snakes and you have to make absolutely positively certain that you do not go over your limit and that you pay them on time, every time . Careful with payment timing as well becuase it can take a week for your payment to post. You really need to check your account pretty much daily to stay on top of it.

That said, when your scores get in to the high 500's to 600's try the Capital One prequalified website and see if your able to get another one of their cards. Cap One will serve you better in the long run and soon you'll be able to close and cut up that Credit One.  The sooner, the better !

[Anonymous]

Thanks, I did apply for a Capitol one card and got it for a credit limit of $300. I currently have $120 dollar balance, but I am still waiting on them to post my due date so that I can make a payment ( as of now I cant make a payment with them). I got this CC a few weeks ago. Once they post a due date I was going to pay it down to about a 10% balance. As for the Credit One Bank card I pay online through qucik pay, I have to pay a little more, but my payments posts the next day. but for me right now its about getting my credit score up. As of now I will be using about 90% on each card each month, then as soon as my due date posts to make a payment I will pay them down to have a balance of about 10%. Also I am online with both of these companies daily and watching like a hawk. Thanks

[Anonymous]

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@Anonymous wrote:

Thanks, Is it safe to use my CC again? I was online and this is what it states. "Detailed below is your statement information for the billing period ending Friday, February 19, 2016.The ending balance is $59. It still has not been reported to the Bureaus yet, today is the 5th day after my due date of 2/15. My question is if it gets reported will it be reported with the $59 balance or if I use it today and add more money will these new charges be reported along with the $59. Thanks

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If the closing day was yesterday, it will only report the $59.  So go ahead and use it for whatever you have use it for...

[Anonymous]

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@Anonymous wrote:

Thanks, I did apply for a Capitol one card and got it for a credit limit of $300. I currently have $120 dollar balance, but I am still waiting on them to post my due date so that I can make a payment ( as of now I cant make a payment with them). I got this CC a few weeks ago. Once they post a due date I was going to pay it down to about a 10% balance. As for the Credit One Bank card I pay online through qucik pay, I have to pay a little more, but my payments posts the next day. but for me right now its about getting my credit score up. As of now I will be using about 90% on each card each month, then as soon as my due date posts to make a payment I will pay them down to have a balance of about 10%. Also I am online with both of these companies daily and watching like a hawk. Thanks

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@I agree with @Creditwiser but if those are your current scores in your siggy then do what do and then get rid of it immediately. And I am also glad you are paying close attention and watching the account like a hawk....

Keep it up!

[NRB525]

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@Anonymous wrote:

Thanks, Is it safe to use my CC again? I was online and this is what it states. "Detailed below is your statement information for the billing period ending Friday, February 19, 2016.The ending balance is $59. It still has not been reported to the Bureaus yet, today is the 5th day after my due date of 2/15. My question is if it gets reported will it be reported with the $59 balance or if I use it today and add more money will these new charges be reported along with the $59. Thanks

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This is what will report on the credit bureau. You are now in a new billing period, so new charges won't go on that $59 amount from the February 19 balance.

[Anonymous]

Congrats!

[score_building]

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@Creditwiser wrote:

Be very careful with that card.  If used properly it will help you in your rebuild but understand they are snakes and you have to make absolutely positively certain that you do not go over your limit and that you pay them on time, every time . Careful with payment timing as well becuase it can take a week for your payment to post. You really need to check your account pretty much daily to stay on top of it.

That said, when your scores get in to the high 500's to 600's try the Capital One prequalified website and see if your able to get another one of their cards. Cap One will serve you better in the long run and soon you'll be able to close and cut up that Credit One.  The sooner, the better !

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OPs listed scores are already in this range, +1 should be closing Credit One ASAP.