Basically Use it and pay it every check don’t go over 30 percent if you do go over 30% . pay the difference quick .You have to use it ..i use mine for gas or minimal groceries I pay it everytime i know im around 30% or more plus i use autopay .. Use it , Autopay it , Also put money into it to leave just below 30% of what you have in there
If anyone gives you a number they are lying to you. There is no "Number" you need to get a home. If you NEED a number I will give you one.....ZERO. Get as close to ZERO debt obligations as you can before you apply for the loan. Simply, the banks only concern is that you have less financial obligations going elsewhere than to them. You do that by getting as close to zero bank credit card debt, getting as close to zero personal loan debt, getting as close to zero car loan debt, getting as close to zero retail card debt. Anyone gives you a NUMBER is lying to you.
Ensure you pay Credit Card bills before it falls due as electronic payments may take a couple of days to hit the account. Aim to use less than 30% of the approved credit limit. If you have old credit cards but are not using them, don't close the accounts.
Thank you so much for this info, I'm 42 and to be honest I dont know much when it comes to building credit. Also I will be sharing this with both my sons so they too will know how to build their credit.
Slightly disagree with Kchovan about payments taking a couple days to hit the account. Your payment is CREDITED to your account as of the date you make the payment, however it will take a couple days to POST to your account. Ex. you make a payment on Friday at 155pm. Your payment is EFFECTIVE or transacted Friday. On Monday you will SEE the transaction in the payment history showing Friday's effective date. Totally agree about the 30% assertion. Experian has a free tool that shows your Utilization. Suggest you sign up, and yes sign up and use is free. It's my Financial Bible.
Just saying you do not need to carry over any balance. Paying interest does absolutely nothing but make you spend more money. Keep your utilization low at least 30% or under. It actually shows your that much more responsible when you never pay any type of fee. You make on time payments and utilization low you'll see a difference. You'll get the same results if you just pay your minimum bal or pay off entirely. I highly recommend not paying interest
Apply for more credit, pay on time, pay off any bills owed to creditors, and most importantly wait..haha..j/k..no seriously it takes time before it starts to grow. Download creditkarma, it may help you get a better understanding.
Hello, I had a Discover secure credit card pop in my notifications so i opened it. Im in process of raising my credit currently 583 Fico, 33% DTI, saving to purchase a camper for vacation and wondering what u got that can help raise me to 680-700 😉
Everything you read here is a lie. The only thing that appears to work, is use very little of your credit, pay on time and give it time. All of these agencies work with the banks to screw us. The lower your score, the more interest costs. They have no incentive to help us. And when you talk to them, being nice is a waste of time. In addition, store cards are to be avoided. You can hate banks, but they understand security. I just had an incident with nordstroms that defied logic.
Just remember, all they know how to do, is say they are sorry. They won't fix it or change anything