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Posted in Credit Cards
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Question By
betito33

5 Contributions
11 People Helped
Do I have to USE my secured credit card to build credit?
I have two secured credit cards that do not let you avoid paying interest by paying the balance in full each month. They charge interest IMMEDIATELY beginning the day you make a purchase and there is NO WAY to avoid paying interest per their terms and fine print. I missed that when I signed up and thought I would only pay the annual fee, did not plan on paying interest, too because I always pay in full monthly.

SO IF I NEVER USE THE CARDS, will I still "build" my credit and improve my credit score? Or should I just give up, cancel the cards, and stop paying annual fees for cards I don't want to use? I ONLY have them to improve my credit.

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Top Contributor
11 Contributions
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Most Helpful Response

Absolutely.

Helpful to 1 out of 1 people

You have to show some utilization to build credit, so use it, but never carry more than 30% on it, never be late on your payments, and in fact I would recommend paying all but 5-10 dollars off each month.

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