If you be given a 200 dollar credit stripe how would you use that to create big dollar credit? suggestions ideas?

suggestions ideas?

If this is simply the beginning credit strip than pay your bill prompt or before its due and slowly they will increase your restraint when they find that you are credit worthy.

ummm use it and pay cheque it on time and eventually if they dont make a contribution you a credit line increase you can ask for one...lately make sure you repay your card on time!!

Answers: I am going to assume that you are within the United States and base my answer on our credit practices as I read between the lines them. Since I am a professional Credit Advisor, I believe I understand them fairly well.

First of adjectives, do not exceed one-half of your credit limit, EVER! As soon as you exceed one-half of your credit cut-off date by one cent, your FICO score starts to drop. Once your FICO gain has dropped to a lasting point most credit card companies will increase your interest rate even if you have other paid your bill on the dot.

Pay ALL of your bills on time, especially those bills that routinely report to the credit bureaus. Credit card companies will periodically check your credit and if they see that at hand are multiple instances of late money of failure to reimburse, they will raise your interest rates. These instances will also suspension approval of increased credit.

Keep your active credit card accounts to a minimum. No more than three. If you hold more than three your FICO score will drop. Also, credit card companies and any other money lenders will consider you a risk if you enjoy more than three active credit card accounts. This is because the incentive to borrow beyond your means is amazingly great. It is also another excuse for credit card companies to increase your interest rates. Do you see a recurring focus here?

Give it time. Most credit card companies want to see a three year history of payment beforehand they consider increasing your credit limit.

And a word of counsel, DO NOT PAY FOR YOUR CREDIT CARD! The headaches cause by these kinds of credit cards will den you for many years to come.

If you hold any questions in connection with your credit issues, please feel free to email me at nebula7693(a)yahoo.com

One thing to record is if you get a alien credit card then hastily take it to a lofty percentage of your credit limit it can hold a negative impact on your credit rating.

Its be a couple years now since my ruin and I finally applied for a credit card. I got one beside a $300 limit. I figure it is better to use it so you can show payment history on it so I told the wife to use that for part of the pack of her Christmas shopping.

When I first received the card my credit score go up 25 points (boy was I excited). When we put $294 on it my credit go down 34 points.

The reason is when you achieve new credit and right away max it out the assumption is you need the credit to live hence you are a bad risk. I'm hoping paying it past its sell-by date or down to less than 5% of the be a foil for will recover a roomy part of what I lately lost on my credit rating.

I have to make a clean breast that I had abundantly to say almost this but after reading Robert's post I don't think I could enjoy said it better myself. The only article I would add is that if you unfurl a line of revolving credit, solitary use it a few times a year and keep a small be a foil for on it a couple of months a year. I have no channel of knowing for sure but I have hear that this helps your credit win.