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what %age is the rule for building credit?

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daybreakgonesXe
Valued Contributor
‎07-24-2014 05:13 PM
‎07-24-2014 05:13 PM

Re: what %age is the rule for building credit?

@golfitup wrote:

Need a little clarification please - just got one credit card started (Credit Union Visa) with a $1,500 limit.

 

Lets say my statement date is the 20th of each month. August 20th will be my 1st statement date. I need to have charged between 1~9% of my limit before the 20th and then it will cut this as my charged amount for the month. Then, after my bill becomes due, what do I do to keep it going? LOL. I will get a bill for payment next I guess. Then do I pay it off lets say the 1st of September and then charge 1~9% again to it before the 20th of September and it cuts again? 

 

Thanks!

Golfitup

You got it!

Message 11 of 12
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MT936
Established Contributor
‎07-24-2014 06:06 PM
‎07-24-2014 06:06 PM

Re: what %age is the rule for building credit?

report a 1-9% balance on 1 card and  a 0 balance on the rest

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

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