New card holder with some questions (18 years old)

For just about anything you want to get off your chest about credit cards.
23 posts
Centurion Member
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Posts: 235
Joined: Tue Mar 12, 2013 10:10 pm
Location: United States

Postby JoDa » Sun Mar 09, 2014 5:44 pm

I do think you're missing one point that was made that is valuable for you. Your utilization is simply what you owe *on the date your card reports.* That date is normally the statement date. You mentioned you typically pay off purchases as soon as you make them (well, within a few days). If you continue to do that, being mindful of your statement date and refraining from large charges for just a few days before that date, you can keep your utilization low with only minor restrictions on when and how much you spend (if your statement date is the 20th, grocery shop before the 17th or after the 20th, for example, but go ahead and use the card if you use it then and will pay it off within days). In that way, you don't necessarily need *more* credit right now, and your file will look mighty fine.
CSP $19K
UMP $11.5K
Target Visa $1.5K

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Location: Columbus, GA

Postby grifenhagen » Sun Mar 09, 2014 11:13 pm

One more question guys.
I have 3 cards:
Capital one: 300 limit
Discover: 500 limit
Amex: 1000 limit.
Total CL: 1800.
10% utilization=180.
Does it matter if I evenly distribute the usage across all 3 cards, or can I just put 180 on the Amex and let the discover and capital one stay at 0?

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Joined: Thu Jan 24, 2013 12:24 am
Location: United States

Postby darkguy2 » Sun Mar 09, 2014 11:36 pm

You score is based on all three together. So it does not matter how it is distributed.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

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