So I got 2 new secured cards about 3 weeks ago and I have used them for a few things. here are the details:
Creditor Limit Balance Reporting Date Deposit First Due Date
Wells Fargo: $300 $55.00 11/10/12 $300 Dec 4,2012
Capital One: $200 $29.00 11/12/12 $ 99 Dec 12,2012
So ok thats the details what should I pay tomorrow on both? I want to see how high my score will go! I am using credit Karma. Should I pay $28 to wels fargo leaving $27 owed? (9% utizilation?) or less or should i pay off capital one tommorw? What would be the best thing to do? My score now is zero. 19 years old on my transunion report i have 3 inquirys Discover, Wells Fargo, Wells Fargo I applied 2 times one for unsecured and then secured. Then Experian I have 2, Capital One then credit union equifax I dont have a report generated yet...
Pay the cards on time and don't use more than 30% of your credit line. That's all you need to do. You should have a credit score within 6 months from the date you opened the cards. Good luck!
Personally I'd PIF them both. I do believe I understand what you're trying to do, so pay one off and leave $2 on the the other one to report.