credit card % of usage?

[jimmyt2003]

my wife has a capital one with the same limit and i tell her to make a small managable purchase, let it report and pay it off. like i said magic number <30% of limit.

[toothgrind3r]

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@Anonymous wrote:

This card is from Capital One, They have in writing after 5 on time payments they will do a CLI, now I don't know if thats going to be $50, or $500 increase. My income would support maxing out the CC. I am only going to use this on things that I already pay Ie: Gas, bills, etc. If I PIF after the statement post will it report to my credit report as being utilized? 

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Yes, whatever is on your card when the statement cuts is what will be reported, and factor into your utilization.

You can make multiple payments within the statement period though.  So, say, you could do it 4 times in one month and that's almost like having a $1000 limit on that card.  If you want to report zero or low utilization, be sure to pay it before the statement cuts.

Wether or not that is a good way to go about it, I'm not sure...maybe someone else can chime in.

But this early in your rebuilding phase, I would say use that card, pay in full, and it'll grown with you.  

I started my rebuilding with a CapOne secured card ($I think I had made it $500 to start)  PC'd to a Platinum, PC'd to a Quicksilver which is now at $4500 CL.  So CapOne rewarded me for good use of the card.

[takeshi74]

Saying "search" is a bit harsh but this is a very common topic.  Use as much as you want.  Pay prior to the reporting date (usually statement date for most cards) to reduce reported utilization.

You really don't need to worry about optimizing utilization unless you're applying for new credit.  For maintenance purposes aim to keep it under 30%.  You can drop it to 10% or less when you're ready to apply.  Utilization is calculated for a given point in time so prior utilization does not matter.

[Anonymous]

No arditr, I am not "focusing my energy negatively". Saying "use the search engine" is a rude way to point someone in the right direction. If you wanted me to find this posting the proper thing would be to send me a link to that posting. When I search for "% of credit card" what you are refering to does not pop up. 

https://www.youtube.com/watch?v=nGt9jAkWie4

[Anonymous]

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@Anonymous wrote:

No arditr, I am not "focusing my energy negatively". Saying "use the search engine" is a rude way to point someone in the right direction. If you wanted me to find this posting the proper thing would be to send me a link to that posting. When I search for "% of credit card" what you are refering to does not pop up. 

https://www.youtube.com/watch?v=nGt9jAkWie4

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awe!!! i love that movie!!!!