I've never had the secured card, but if it's like the unsecured use it like debit and pay it right off. Multiple payments if necessary.
@dznen1 wrote:Hello All,
I have been approved for the Cap One Secured card, My question is on usage.
My ccredit limit is $200. How much should I charge ond pay in full each month for my best outcome so that when the time comes I will have the best chances of getting the periodic increases?
I also have an Open Sky w/$200 cl.
Advice appreciated.
My advice is to keep using it and paying it off over and over again before the statement cuts. By the time the statement cuts make sure your balance is $50 or less.
Yes, that's the right advice. Charge & pay as you go, multiple times per month if you have that much spending to do. Just keep in mind that it's unlikely your secured card will go up much. I think most people see a $100 increase around the 6-12 month mark.
What the usage will get you though, is a positive internal record with Capital One and they definitely reward that big time. About 2 years ago I had a non-reporting business card with Capital One and added a secured card. The secured card started at $200 and increased to $300 sometime later. About a year after getting the secured card I was approved for a $3000 QS1 (now a $5500 Venture One); then 3-4 months after that I was approved for a $5k Venture (now a $7.5k Quicksilver), and 6 months after that I was approved for a $30k Venture. Scores were below 700 at that time, but Capital One definitely rewarded the spend I had on their cards.
My QS1 started off as a HSBC/Orchard Bank MasterCard with a credit line of $300. I used it for everything, and paid it in full multiple times each month. I wasn't overly concerned with the statement showing a low balance (sometimes it showed PIF, sometimes it showed I was maxed, depending on how my payments hit). If you're really watching your score it will help if you can keep your reported utilization as low as possible, but at the time I wasn't concerned with this.
Fast-forward to now, that card is a QS1 with a credit line of $3900, with almost all of that growth since the card was converted to Capital One. With lots of heavy usage and a little time, Capital One accounts can grow very quickly! 
