Cap 1

[MarineVietVet]

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@Anonymous wrote:

Also, do you think being added as an anuthorized user on one of my dad's cards(he has one with a really high limit and has had it for 15 years) would help me out?

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Yes it can help you IF the account is older than any of yours (looks like it is), IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[tinuviel]

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@Anonymous wrote:

Yes, I am already on the hook for that annual fee. I hate that the most, I think. I am tryig to build my credit the best I can, but unfortunately aside from some student loans, I dont have any credit history to speak of, so I guess you're probably right in that I should just keep this card and go with it...as far as uti is concerned, does it really matter for me this early in the credit game? should i be reporting only 10% on this card? That is only a measly 30 bucks

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The key word here is "reporting." You can USE as much of your CL as you want, so long as you pay it off to below 10% before your statement cuts. Your statement amount is what will be reported.

So, let's say that you charge $150 one week. Turn around and pay it off via the website. The next week, charge, say, $200. At the end of the week, pay it off. The following week, you charge $175. At the end of the week, you see that your statement will cut in a few more days. So, you pay $150, leaving a $25 balance and hold off using the card until the day after your statement date. Then you resume using the card again, following the pattern just outlined. This way, you can charge much more than $30 -- more than your $300 CL, really -- and still stay < 10% reported util.

Make sense?

[Anonymous]

Is it wise to do this? I mean spend a lot but pay it off before my statement generates? i dont have a problem with having the cash. I got this card to build credit, so I guess my question is, why would I charge a lot and pay it off before my statement hits vs just buy one thing for around $30, wait until the statement hits, then pay it off before the due date?

[addicted_to_credit]

from what I have gathered from your posts you are not happy with your CL you can charge 30 or less dollars to obtain the desired UTL its your card and credit but I think from personal experience and what the other posters are trying to say is if you want your CL to grow then you need to use it as much as possible and since it is only CL of 300 dollars you will need to more than likely need to make multiple payments hence charging 200 and paying off then charging another 150-200 and paying it DOWN to under 10% 

[bichonmom]

Many people here have written about using their card and paying several times throughout the month, so #1, your util is low, and #2, you're using the card a lot as a way of convincing the CCC to give you a CLI. Well, it may work, but according to the loan rep at my local CU, the bank/CU couldn't care less about your doing that. She said they make NO money when we don't pay interest; the merchant fees/bankcard discount that vendors pay just covers their costs. She said that you could use card and pay it nearly every day, and it's not going to have any effect on how much of a CLI you get - or even if you DO get a CLI. She said the ONLY thing they care about is if your paying your bills on time and what your CR/score are (and not maxing out). She said the ONLY reason to use your card and pay frequently is if you get rewards -- that's it.