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Best Secured Card Usage For Most Credit Score Points

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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Valued Member

Best Secured Card Usage For Most Credit Score Points

Hello,

I have found that some say use your secured card at under 30% and pay the full balance every month. Others say they use the card all through the month and quickly pay it off before your statement comes out.

What’s the best usage to get the most increase in credit score. All help appreciated.


Starting Score: 520
Current Score: 520
Goal Score: 700


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CARDS: Discover It | Open Sky
Message 1 of 3
2 REPLIES 2
Moderator

Re: Best Secured Card Usage For Most Credit Score Points


@Rebuild2019 wrote:
Hello,

I have found that some say use your secured card at under 30% and pay the full balance every month. Others say they use the card all through the month and quickly pay it off before your statement comes out.

What’s the best usage to get the most increase in credit score. All help appreciated.

Fico scores are based on whats reported to the CRAs, in a rebuild you only want one revolver reporting no more than 9% of its CL to the CRAs. As far as using it during the month, taking it to the limit and paying it off so it doesnt report as such isnt a problem.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 3
Valued Member

Re: Best Secured Card Usage For Most Credit Score Points

Thank you. That answers my question.


Starting Score: 520
Current Score: 520
Goal Score: 700


Take the myFICO Fitness Challenge





CARDS: Discover It | Open Sky
Message 3 of 3