Srond

2 Contributions 0 People Helped

Member Since: August 2014

Activity (2 Total Contributions)

Credit card utilization and your credit score

Jan 31, 2015

I have two credit cards that I secured with my own funds by borrowing against my own money. I have one student in college, so he uses the money on his card up to about 60-80% each month., So I just transfer money from my account to his about 5 to 6 times a month. I really dont pay a bill because I am constantly putting money on his account which I am on the card, so it shows up on my credit. I am not using someone elses money.  I have a $3000 credit card that I did the same thin with, I borrowed against my 3000.00 and I use my card the same way.  I do not have credit cards open that are unsecured..  Both careds are 5% interest, but since I'm constantly putting so much money on each month, I really dont pay much interest, because I am earning interest on my money.  I refuse to use debit cards because of hacking issues and my credit cards have special benefits if this should happen.  Does it matter to the bureaus if my cards are my own money? And if so, how can I get this information updated across the board??  Help!

Credit card utilization and your credit score

Jan 31, 2015

I have two credit cards that I secured with my own funds by borrowing against my own money. I have one student in college, so he uses the money on his card up to about 60-80% each month., So I just transfer money from my account to his about 5 to 6 times a month. I really dont pay a bill because I am constantly putting money on his account which I am on the card, so it shows up on my credit. I am not using someone elses money.  I have a $3000 credit card that I did the same thin with, I borrowed against my 3000.00 and I use my card the same way.  I do not have credit cards open that are unsecured..  Both careds are 5% interest, but since I'm constantly putting so much money on each month, I really dont pay much interest, because I am earning interest on my money.  I refuse to use debit cards because of hacking issues and my credit cards have special benefits if this should happen.  Does it matter to the bureaus if my cards are my own money? And if so, how can I get this information updated across the board??  Help!