Icuracao to build credit

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Joined: Sat Apr 06, 2013 12:53 am
Location: Los Angeles

Icuracao to build credit

Postby Mentadentt » Sat Apr 06, 2013 1:06 am

I'm trying to build my credit and went to Icuracao where attaining credit is somewhat undeniable. I was approved for a credit limit of $675 and 0% interest for 4 months. Now I want to buy myself a new IPod since the one I've had for 3+ years broke. Would spending 300 dollars and paying it off in 4 monthly payments be okay? would leaving a balance at the end of the month hurt my credit (4 monthly payments)?

Also I was browsing the forums and it is recommended to have a statement balance between 4-10% by the end of the month, this is new to me. For the past year on my capital one card (limit $500) I've been making full monthly payments of ~150 to ~250 never being late and paying off in full. Am I hurting my credit score? If from now on I keep it within 4-10% how long will it take for my score to reach its optimal.

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Postby neptunejcw » Sat Apr 06, 2013 5:54 pm

Keep all cards under 20% utilization every month & pay on time & you'll be fine. Maxing out a credit does hurt your score but keeping a small balance doesn't.

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