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Do you have to use cc to help FICO the most or just have the accounts?


debtmamma
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If I get approved for a CC, do I have to use it to give the most help to my fico score? In other words can I just obtain them and then cut them up? I usually buy prepaid visas at the mall if I need an online purchase or just do electronic check debit if that is offered.

I really do not want them (cc) in my wallet as I think I would be tempted to use it for things I can't afford. If I have to have usage I was thinking of maybe putting my month Transunion or EQuifax bill on there then cutting them up. Or putting my monthly interet bill on there as an automatic charge. That way I would have a monthly usage on there but not have them in my wallet. I would prefer just to cut them up though! LOL :)

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Hi, do a search on "utilization." Basically, you will have to use the cc to get a better FICO score. While some people suggest keeping the balance at 10% or under, I believe any regular usage will help. So, putting on regular monthly charges like TR or EQ may be enough.

In fact, I do the same thing. I have an $8.00 a month Blockbuster charge and my $89 a month gym membership automatically charged to my CC so I get some utilization every month.

Like you, I try to avoid charging too much. That's how I got in trouble in the first place.

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Hi, do a search on "utilization." Basically, you will have to use the cc to get a better FICO score. While some people suggest keeping the balance at 10% or under, I believe any regular usage will help. So, putting on regular monthly charges like TR or EQ may be enough.

In fact, I do the same thing. I have an $8.00 a month Blockbuster charge and my $89 a month gym membership automatically charged to my CC so I get some utilization every month.

Like you, I try to avoid charging too much. That's how I got in trouble in the first place.

hey, so i have reading about this "utilization" thing on cc; and I read what you said about too. Here's my question: suppose i keep my cc balance under 10% of the balance or under that neighborhood. How does the FICO calculator know the difference only if im charging like $ 15 every much and pay it; or charge my cc $ 100 every month and pay it? I am sorry if im confusing you but all what im saying is does the amount you charge and pay matters, assuming your balance is around 10% of the total limit of the cc?

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