generally new credit holder, need some help

[elixerin]

heya friends, i was looking for some advice on my 1 and only discover card.

Currently ive been religiously reporting a $0 balance every other month im not having a 15-20% balance reported.

Is this how it should be done? main goal is high scores in the shortest time possible while ofcourse being patient, i wanna take on more rewards and credit and might try to app again in next statement ($0 balance report for me)

should i keep following this route? for a better background i have a $2000 credit limit and spend around $5-6000 every month so statement balance is always paid its just a reporting game im playing here, dont know if its helpful or even if im doing it right. also im at 11 month credit history about to be a year coming nov 6 no loans or derogs

Thanks for reading and the help!

[Anonymous]

let it report between $1 and $99. otherwise, 5% of the limit is good.

if you let it report $0 it's ok, but you get slightly less points for that.

[elixerin]

ooo thanks for the advice and quick reply, next report coming up wont be 0 but 1% now THX THX

current reporting is 13% of 2k, next will be around 1-2% closing Nov 6

[Anonymous]

Ideally have it report under 4% but more than zero, at least a five dollar balance because you don’t want it to be forgiven.

Really you haven’t given us enough information about your profile to really give you much advice. If you would like more specific and detailed advice please provide the number of accounts, open and closed on your report, the age of your youngest account, the age of your oldest account, whether you have any derogatory’s and if so how many and what they are.

[elixerin]

course, oldest and only acc on credit is Disco at 11 months. Closed capital one cc $300 limit so two total one currently open. no mortgage, loans, or derogs. aiming for amex cash magnet soon (idk when) currently rocking an average of 705 score across all three FICO’s

[FireMedic1]

Why is Cap1 closed? Did you close it or did they close it? You need another card and up to 3 slowly. Theres nothing fast in building credit. Once you get 2 cards. Then follow AZEO. Same after 3 cards. You got the loans covered so you dont need another one of those. Question is why is Cap1 closed.

[elixerin]

hey i closed cause the $300 limit was a nogo for me and ive heard bad stories of being locked in tiny limits with their platinum mastercard, all paid off and never gave interest on that either. after disco 2k i didnt really feel the need in having it, for no rewards and line ofcourse

[FireMedic1]

You take what you can get when you rebuild or start to build. You have to start somewhere. So that wasnt the greatest thing to do. No one is entitled to what they want and high limits while rebuilding or even starting to get a credit file. You have to work your way at a slow and steady pace to get to the big dogs. You took the triple pull and now you have nothing to show for it. Because you didnt like the credit line. So now you have to get another card and a thrird card to get to the rebuild FICO bonus. Tons of us on here had to start with Cap1 buckets cards. But they helped us get to the better cards. Then we close them out. So try some prequals and see what you can get. Even if its a Plat again. Brick (card) by brick (card) the foundation is bulit and the house is then built. Good Luck!

[elixerin]

which is why i was on disco $500 secured for 7 months, they 4xed my line and gave back my deposit and im still showing that im a responsible burrower. All this was while cap1 was struggling to raise me from $300 to $500 with no rewards. It’s the company more so the card. how long did you wait when you first established credit (not re-establish) for the “big dogs”?

[Anonymous]

i have brand new credit, here's how it went for me, it's also shown in my sig w/ scores. these are my starting limits, some had a cli by now:

0mo = deserve (unsecured) $1,000

+3mo = discover (unsecured) $500

+3mo = amex (unsecured) $6,000

+1mo = uber visa (unsecured) $2,500