CAP1 EXPERTS

[bsal]

In my case I don't plan to use this card often so for example if I spend 80 bucks on a 1k card that keeps me at 10% credit utilization. And let's say the statement cuts on 3/2/16 and the bill is not do till 3/18 I'm going to make the minimum payment and keep the remaining balance for the next statement cut cause I don't plan on using my card often do I make sense? If not please let me know cause I'm just trying get things right to stay around 10% utilization

[Anonymous]

---

@bsal wrote:
In my case I don't plan to use this card often so for example if I spend 80 bucks on a 1k card that keeps me at 10% credit utilization. And let's say the statement cuts on 3/2/16 and the bill is not do till 3/18 I'm going to make the minimum payment and keep the remaining balance for the next statement cut cause I don't plan on using my card often do I make sense? If not please let me know cause I'm just trying get things right to stay around 10% utilization

---

Is this your only credit card?

[bsal]

Yes well I have a 300 dollar target card but for the most part yes it is

[bsal]

Why an I doing something wrong?

[Anonymous]

---

@bsal wrote:
Why an I doing something wrong?

---

Here is a snapshot of how to maximize your FICO score with the between 1%-9% reporting when you have only 1 card.

Visa card with $1,000 credit limit

Prior to you statement date leave an amount between $10.01 a d $99.99 to report to the credit bureaus.

Pay all of that a few days after your statement date and before the due date.  Don't leave any balance....leave $0

If you have 2- 3 cards, you have to pick 1 or rotate which one reports a 1-9% balance and the other 2 must have $0 when the statement cuts and is reported to the credit reporting agencies.

Make sense?

P.S. This is not my brilliant idea,  I learned this here.  

[Anonymous]

---

@bsal wrote:
Why an I doing something wrong?

---

@Anonymous, you are not.  But @Anonymous explains it in her post above mind.  I asked the question out of curiosity since you wanted a CLI on the new card...

[bsal]

Thank you SAILQUEEN I will definitely use your advice when I receive my card

[elim]

1k is pretty good CL for your first (or rebuild) card. A lot of us started with $150 to $500. Don't sweat it. This is the usual intro into higher limits. Put every bit of your usual spend through the card and do as others have said and maximize score by optimizing utilization. 

You are basically on a 6 month quest to show heavy use, prompt payments, and logging in and being engaged with the product, all while in CLI mode. In 6 months it is pretty easy to get an above average starting limit with Cap1 (Venture) and 5k with other lenders certain cards.

[bsal]

Thank you Elim I definitely will and won't spend anything more than 80 bucks on it to get that maximum utilization going

[takeshi74]

---

@bsal wrote:
Need some advice today I applied for Cap1 platinum card and got approved for 1,000 I'm not satisfied with that amount do you think they would do a CLI when I receive the card or is it way too early to be asking for that ?

---

Even if they would consider it your credit profile and income determine what you qualify for.  We have no idea what you would or would not qualify for.  We're not Capital One underwriters.  Odds are if they would have approved you for more then you would have received more.  Work with what you have.  You can always pay down the balance prior to report date and even make multiple payments if needed.

---

@bsal wrote:
And let's say the statement cuts on 3/2/16 and the bill is not do till 3/18 I'm going to make the minimum payment and keep the remaining balance for the next statement cut cause I don't plan on using my card often do I make sense?

---

It doesn't make sense.  Report and carry are two different things.  You do not need to carry a balance for scoring purposes.  You want to avoid carrying a balance so you don't incur debt and interest.  Pay every statement balance in full by its due date.  If you need to adjust reported utilization then pay down the balance prior to the report date and then pay the remainder of the statement balance by its due date.

The minimum is irrelevant.  All it tells you is the least you have to pay to keep your account current and to avoid incurring lates and other derogs.  Focus on revolving utilization, not the minimum.