I got my credit card in September with a 10k limit. It was my first credit card and I was able to get it due to my household income/existing savings with the bank.
My credit score at the time was 614, and this was due to a missed phone bill from August 2021. I switched phone companies and they sent paper mail to my house with the final bill. I didn’t even know where the mailbox was as I lived in student housing, it was certainly carelessness on my part and I paid it off albeit 90 days late.
I thought that getting approved for a card with a high limit would help my score, at least a bit, but my score stayed at 614. Yesterday, it even dropped to 610. I’m guessing this is due to higher utilisation in November (above 10% but below 30%) but I paid the expense as soon as it was charged, it did not even show up on my statement so could that change things?
Basically, I’m wondering if I just need to give it more time and spend ~$200-500 on this card for a few months to see if it goes up? Or is there more that I can/should do? I’m feeling pretty discouraged/stressed and would appreciate any advice
Submitted December 23, 2022 at 11:36PM by helpplspanicking https://ift.tt/x3ktqiR
