Trying to get Usage up; for CLI's- ADVICE?

[SLO805]

Ok bit of a dilemma maybe someone can assist me or give me a strategy.

I have a few newer cards- discover it, amex, bofa bbr, cap one etc.

Everyones advice on each is use use use heavy usage and will grow..So last night i charged 4500$ as they dont report till the 20th +/-. Im going to pay off soon as it posts or wait a couple days, but I dont even need any of this crud i bought. 

I cant keep wasting money to build these credit lines up. What should I do?

Mom suggested pay bills, I said ill pay her bills, as my utility bills are only about 200$ monthly and for 4+ cards that isnt much usage. I asked to pay hers lol.

[Anonymous]

Groceries, gas, bills, insurance, etc...you can even pay your insurance a year in advance.

[SLO805]

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@Anonymous wrote:
Groceries, gas, bills, insurance, etc...you can even pay your insurance a year in advance.

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Groceries only like 400$ month, gas I dont drive for work and own a prius so a tank every 1.5-2 months insurance is paid in advance already  till august this year

[BallBounces]

Do not buy things you do not need.  That is the tail wagging the dog, in a significant and dangerous way.

[bdhu2001]

Don't buy stuff you don't need and don't obsess over getting CLI.  It's a marathon, not a sprint.  Just put your monthly purchases on your cards and continue to PIF. If you don't have any installment loans, get a shared loan.  

Wait 6 mos to a year and request CLI.  If you don't get them, that's fine.  It may be that your initial cards keep toy limits, but you get a different card that gives you a better limit in the future.

[SLO805]

I got 3 loans in last year and just paid them off, one in first month, 2nd in 3 months and 3rd in 6 months. didnt help scores lol

[mitchblue]

Use credit cards for regular spend. Bills, groceries, gas etc. Looking for ways to just buy anything in the chance you get some CLI can get you in trouble. Plus if your utilization is too high, your scores will plummet. Have patiece.

"..but I dont even need any of this crud i bought. " Wrong way to go about it. Why not just give it to charity ..

[gdale6]

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@SLO805 wrote:

I got 3 loans in last year and just paid them off, one in first month, 2nd in 3 months and 3rd in 6 months. didnt help scores lol

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Loans yield results over the long haul and only if they remain open, close your last installment loan and your Fico8 will drop. If you are not rebuilding dont bother with installment loans just for Fico purposes.

[SLO805]

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@gdale6 wrote:

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@SLO805 wrote:

I got 3 loans in last year and just paid them off, one in first month, 2nd in 3 months and 3rd in 6 months. didnt help scores lol

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Loans yield results over the long haul and only if they remain open, close your last installment loan and your Fico8 will drop. If you are not rebuilding dont bother with installment loans just for Fico purposes.

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welp crud. Advice on a loan to keep open for(ever) a long time?

[Themanwhocan]

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@SLO805 wrote:

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@gdale6 wrote:

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@SLO805 wrote:

I got 3 loans in last year and just paid them off, one in first month, 2nd in 3 months and 3rd in 6 months. didnt help scores lol

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Loans yield results over the long haul and only if they remain open, close your last installment loan and your Fico8 will drop. If you are not rebuilding dont bother with installment loans just for Fico purposes.

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welp crud. Advice on a loan to keep open for(ever) a long time?

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Alliant Credit Union. After you join, then open a $500 Secured Installment loan for 5 years. Once its open, you can go online and cancel the automatic monthly payments, then pay it down so just less than 10% is left on the loan, just remember to start paying in about 4 years or so. Until then, you will have an open installment loan that keeps generating an OK on your credit report each month.