ICU_RN wrote:
Hi everyone, brand new here. I've been reading a lot of posts and have learned a lot already. I filed chapter 7 bankruptcy, discharged in June. I have been able to get Orchard Bank card (300 limit). My only question regarding utilization is, since I am trying to reestablish credit, is it better to keep the 10% utilization balance or pay in full? I've heard conflicting info elsewhere, but you guys all seem to know your stuff. Just want to know if I should be carrying over a balance from month to month or just pay it off. The finance charge on a 300 dollar card isn't an issue here. Thanks in advance. (This is my only card besides a Target red card which I haven't used yet)..
The general consensus seems to be to allow about 1-5% to report every month and then pay in full, hence avoiding finance charges.
Don't let a large balance actually report, even if you PIF subsequently.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
