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Yoshimura

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  1. Forgot to quote you on my answer but it will have to be approved by a admin first. As of today I have 1.14$ in interest on that 500$. So, if I understood correctly the smart way will be to have that 500$ reported and pay right away. It will only cost me 1.14$ each months. I think it's affordable to make a payment history with a different sort of credit product. I only had credit cards and doesnt have a mortgage or personal loan because I doesnt need it so I found it was important to show that I can handle different sort of credit and at 1.14$ a monrh I found it to be the less expensive way. Do you think I should use less? Like 250$ a month and pay it right after it is reported? Thanks in advance for your time.
  2. Hi, thanks for your answer. I'm in Canada and it's only Equifax and Transunion. I have 799 Transunion and had 793 Equifax but as fallen to 780 with no new information explaining that 13 points drop. The only new information was the 500$ balance on my 5000$ Line of credit. I used my line of credit for the first time the 8 of november 2021 for 500$ and my first due date is the 5th of december 2021.
  3. Hi, I wanted some help to know what is the best way to use my line of credit to increase my credit score. I have 3 Credit Cards and 1 Line of credit. I use my 3 credit card less than 10% each month and pay in full every time. Just got a line of credit with my bank of 5000$ and took 500$ right away. I didnt need the money I just wanted to make a payment history. My yearly interest rate is 11%. My question is what is the best way to increase my score with the Line of Credit. Do I borrow 500$ each month and pay it in full each time? Or do I keep that 500$ and repay 50$ a month? What is the best way to improve my credit and add a positive history with that line of credit.
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