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Question By
titanjedi

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0 People Helped
Capitol One Secured Card
I've just been approved for this. I'm trying to build my credit back up (of course). A few questions for the enlightened: 1) Would it be good to charge the $200 limit every month, then pay in full, or some other way? 2) Say, if I have the card for a year, and do "perfectly" (however that my be), how much could it help my score? I used to have AAA credit around 1995, but now my credit score is around 520. Any other advice is greatly appreciated. Thank you.

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Charge it responsibly

Helpful to 3 out of 3 people

Congratulations on getting started on the secured card! Now what you should do is use it responsibly. You plan to charge the card and pay IN FULL each month is great, but consider not using your card more than 90% of its limit (e.g., if your limit is 200, your statement balance should never be above $175. Never miss the payment (which, you will surely take care of), and your score should go up. Not sure how much it will bump, as it depends on other factors. You can use the score estimator on CK, or check FICO score estimator to get an exact picture where you will be one year from now.

Reply by
titanjedi

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Thanks for the response and advice. I will do as you've described.

Top Contributor
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you are very welcome!

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