Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


john1888

Newbies
  • Content Count

    1
  • Joined

  • Last visited

  1. Hi, I opened a secured credit card 18 months ago. This is my first and only card. I have a credit limit of $200. Never missed a payment. I understood you needed to be below a 30% utilization rate. And actually, I had a 0% utilization rate for 12 months. My score back then was 697. But bankers (for mortgage) told me my score was not "usable" because there was no credit history (since I did not use the card). So, I decided to use the card a little bit. As soon as I started to use the credit card for $12 (6% utilization ratio on $200), my score dropped 4 pts even though I paid the $12 in time. I tried again. My credit went from $12 to $22, but my score went down 2 points. Can someone explain why my score dropped in this case even though I did things the right way? What should I do to get an excellent score while building credit history? Thank you

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines