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kreditkarma1337

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How to increase credit score with OpenSky Secured Card?

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The best use of any card

To raise scores:   Use the card to make purchases up to 50% of the credit limit.  Then pay it off completely down to 0. If your using the card for purchases that you would normally pay cash for then the money should be in your account to pay off the card when the bill comes in. Always pay as much as you can each payment. Never make only the minimum payments.  Be sure to give it enough time to report that 0 balance on your credit report. Then use the card normally,  Charge no more than you can pay off completely each month.

Credit cards have three purposes. First, Use them only to make payments and buy things that you already have in your budget. Consider them like a debit card that you have to pay each month. If you don't know when and how the purchase will be paid for, Don't use the card, pay cash.   The second is for Emergencies, Those unplanned expenses such as a car breaking down or a trip to the hospital.  The third is for Planned large expenses.  Things like new computer or that big vacation.  For those, Using a card is a nessesity.  These expenses are planned and there should be money in your budget (Savings account) to pay them off. If not, I use what I call the "Rule of 10"  Those large expenses are in my budget to be paid off in 10 payments. And in general, because these are planned, Those types of expenses will be put onto a Low Rate or 0% card.

hope this helps,  Good luck

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