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cmcclur1

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Looking for some much needed advice concerning utilization ratio. New to the credit world.
I just received my new Chase Freedom card with $1000 limit. Additionally, I already own a Cap One secured card with a $250 limit. My credit history is only a little over a year old and I'm wondering how much each month I can spend between the two cards without jeopardizing the utilization ratio. I have the income to pay off both cards entirely each month if I max them out, but now that I have read through this forum, I'm beginning to think that is not the best approach to maximizing my CS gain. So now I'm looking for some advice that I can one day pass on to another credit novice. Thanks in advance

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On both cards the statement balance will report to the credit bureaus. Most recommend only allowing a balance between 1-10% of your available credit to report. This means you should pay 90-99% of your balance a few days before your statement date. I would recommend adding to your CapOne secured card deposit every couple of months, this will help build your credit file and show CapOne that you are serious about building credit.

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