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snotcrotch

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27 People Helped
Is this a good plan?............
Ive got 1 secured cc and plan to only pay 1 utility bill a month with it. Pay it off monthly as this is a bill I have to pay anyway. In a few months I will get another secured cc to pay another utility bill and pay off monthly. And do this until I have 1 cc for each utility bill. Like I said these are bills I have to pay anyway so I won't be spending any extra. Do you think this is a good thing to do to raise my credit score?

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Top Contributor
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Good plan as long as the usage on each card is 10% or less.  In a few months, you will be eligible for unsecured cards but don't close your secured cards when this happens.  If you haven't read the articles on this site, please do so.  They'll help you be even more credit smart.

Top Contributor
996 Contributions
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I personally don't think anyone would need more than one secured card to build credit, just needs time. Maybe, if you have multiple baddies then second secured card might help to balance them out. Secured card's life expectancy usually is short, unless it graduates, you probably would close it soon after you got 2~3 unsecured cards anyways, so there aren't much of reasons to take extra hits on inquiry and new account, I would much rather save it for unsecured card down the road.

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