Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
kcalrocks

0 Contributions
0 People Helped
1st credit card, many questions. Please help
So I have had my secured credit card for almost 6 months and decided I should try to understand it a little more. So my question is. A lot of information says not to spend more than 30% of your limit. Which my limit is 1500 so in my case is 450 would be the max I should spend.My next question is does it increase my credit score more rapidly if I only pay off half one day and the other half 24 hours later, or just keep paying it off in full?
And from what I've noticed some times it has been reported a balance of 0, I know even with a balance of 0 it still helps my credit but does it increase score quicker with leaving a balance of 450 and paying it off? If so how do I know when to pay it off and it report to the credit agency as 450 not 0? I have also heard this: Find out your due date and your credit card reporting date and pay card in full 1 day before the due date and then do not touch the card until onde day after the credit card company report to the bureau's. Can someone please give me more of an understanding of this? I did call my credit card and then said they report within the first week of each month (no specific day) and my payment due date is the 28th of each month. so in my situation, how does this work?
Thank You everyone again

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
103 Contributions
30 People Helped

This may not answer the question the way you want BUT:

I keep a $50 balance on my card at all points in time. I use my card every month and pay off what I used, leaving that $50. Make sure to pay what you need to before your statement closes for the month (I assume in your situation that is the 28th). 

You are correct in the never go above 30% - I suggest never going above 20%. 

Best way to help your credit is to have a long history, with different types of accounts, all paid on time. As long as your utilization is below 20% it won't make too much of a difference. 

If you don't mind me asking, what is your credit score? Can you apply for any other types of credit? 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.