How does credit utilization on secured cards work?

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Location: Cincinnati

How does credit utilization on secured cards work?

Postby x.ff » Sun Sep 23, 2012 2:36 am

Hi guys.

I've been in the US for a month and have just got my SSN, and I plan to apply for a credit card.

First of all, before reading all the info posted here, since I had a checking and saving at Chase, I applied for Chase Freedom; and I'm not sure whether that would pull my credit rating down already.

Anyway, I'm wondering: If I get approved for Capital One secured card, with say 200$ limit, should I plan to spend only 20$ on the card, so that I'd get the best improvement on my score?

I mean, is that all they take into account, just the ratio? Is it the same if I have a 1000$ limit and spend 100, or I have a 200 limit and spend 20?

Thank you very much in advance!


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