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mistylind

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i got a capitol one secured card. what should i spend and pay off to keep my score going up.
im finally trying to build my credit. I went from a 519 to a 585 and I really want my score to keep climbing???

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Don't do anything for six months except pay your Capital One bill on time. I know it's hard to resist, but it's important to keep your hard inquiries to a minimum, as well as brand new credit lines. The bureaus see someone who is seeking credit as risky.
Pay close attention to your utilization as well. You can spend right up to your credit limit, but when the bill is due pay it down so that your total utilization is less than 30%, and ideally less than 10% (but not zero). Keep it that way until the closing date, which is generally three days after the bill was due. The balance on the closing date is what gets reported to the bureaus, so just make sure it looks good on that entire day.

Congratulations on your score increase! I may be wrong, but I believe that particular Capital One card doesn't graduate to unsecured on its own. If you can manage to keep your utilization very low for the next few months, you may want to apply for the Capital One Quicksilver One next.  Best of luck to you. :)

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Increase

If there is any way to increase the ammount of the secured limit do so.  For example I opened a secured line of credit through my bank, after one month I made an additional deposit to increase the amount of the secured line.  In addition to maintaining a low utilization rate, this seemed to improve my score.  Possibly from lowering the utilization even further and at the same time increasing the amount of credit.  Seemed to work for me.

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