Tips on how best to manage my cards.

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Tips on how best to manage my cards.

Postby danthemanwhocant » Sun Jun 22, 2014 4:15 pm

Good Afternoon!

I recently got approved for two Capital One cards, Quick Silver and Platinum respectively.

I just had some questions of the best way to manage credit cards.

I too, like others I know would prefer to charge pretty much everything to the card then pay it off. However the credit line given is 300.00 a piece.

Would you advise to charge the card and pay it off regularly, i.e. three times a month? Is there a specific time frame I should clear it by so it doesnt report that I maxed out my card three times in one month?

Or is it simply a case of slowly slowly catchy monkey and just wait until I have sufficient credit to run all my bills and spending through?

Appreciate any tips do's and donts, however obvious they appear to be.

I did have a credit card a while ago at about 19. But I fudged that up and have only just been a position to get a credit card. Score is about 600 right now. So I am getting there.

Appreciate the help,


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Postby CarefulBuilder14 » Sun Jun 22, 2014 9:07 pm

I've heard some people have submitted payments to Capital One that are not processed for a few days. I don't know how common a problem that is. With a $300 credit limit, though, I'd be making payments in full every 2 or 3 days if you use the card regularly. My first card had a $600 limit and that was tricky enough to not exceed.

I would err on the side of paying too quickly rather than trying to get the 'ideal 1-10%' to report. After a few more months, when you feel ready to apply for another card, you can let a small balance report (and then pay the balance before the due date to avoid interest). That will help you boost your FICO score when you need new credit.
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