@Anonymous wrote:
Thanks!! That information was extremely helpful! I applied for the first and was approved for $300 and then applied for the second and was approved for the same. Now I have those two cards and the jewelry store card and need to figure out how to use those to make my score move right on up. I feel optimistic for sure and am excited about the journey ahead :-)
CONGRATS on getting those two CCs! Nice Job!
You will get a nice score bump just for getting the second and third CCs because the Fico scoring system is looking for three revolving accounts.
I recommend you use them and then pay them off before the statement cuts, which is what will report to the CRAs.
For the best chance at a good score, have 2 report at zero and just 1 CC report at less than 10% of its UTI.
You need to keep all 3 accounts at less than 10% each and all accounts together need to be under 10% of the credit line.
For the immediate future, just concentrate on paying down each CC before the statement date.
Some of my CCs have a due date of the 4th of the month and the statement date is the 7th. I use the CCs during the month and make sure I have the payment in a day or two before the due date. Then I dont use the CC until the day after the statement cuts, for me on the 7th. So on the 8th, I start using it again, and pay it down before the 4th.
I had one CC that a limit of 250 and another of 500. I am trying to convince the CCC of the 500 that I need an auto CLI so I use that one a lot and I make several payments during the month, making the last one to PIF.
If you have multiple CCs just show a little usage on one and push a lot thru the second one.
Hope that helps.
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