Hello! I am reposting my post after the old one is now all the way to page four. Please help! I don't understand if the question is too simple and is answered in the FAQ, or if it is too hard. Thanks in advance I am a student, and since the day my family has come to the U.S. we have been working on our credit scores. For about one year, the only credit card was a preferred Visa from Wachovia with 7.9% fixed APR and no annual fee. After a year of making on time and in full payments, and a steady checking account with SunTrust and a savings one with ING, I decided to apply for a Big boy, such as the CITI Dividend Platinum (Not for students). Well, somehow I got it 9.24 variable APR. So I guess my question is, what should I do with the old card? Of course, I will keep it active, but the question is how much should I charge per month in order to help my credit? I have a recurring 3.95 monthly bill on it - is this enough or should I do more? I am planning on using CITI for everything now. Last Q, should I get any other cards or is this enough? Thanks in advance
If you are mainly concerned about your credit scores, then the answer is 1) keep both cards open and active, and 2) Use them both, but minimally, and 3) Uae them at an activity level where you can pay them off in full each month (before your billing cycle completes, i.e.: you have a $0 balance before your billing cycle closes) This is the best course of action for your credit scores.
