I have just been approved for my first card and went over the max but payed it off.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

On the bright side, maybe they'll see it as a sign that you need a higher limit and give you an early CLI 😊

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By that logic, they should start giving people with bad credit lower APRs since they probably need to save money the most.  

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I know, I was being facetious. But I do agree with the fact that a lot of usage theoretically should help get cli's. As long as the rules are followed I guess. Then again I've read a boatload of posts on here about people getting good cli's and barely using the card. Its always a ymmv thing, I guess.

[Fizzled]

It's all good. I've had 2x $500 limit cards (one of which is same CapOne Platinum) on my reports for years that have reported "High Credit" over the limit.

For the record, I don't recall having ever had a statement close above the limit, but have gone over briefly in the middle of a statement period which was paid off prior to close.

I wouldn't worry about it too much. It's obviously a flawed metric (since I've never closed above the limit) so I doubt future lenders care. Your score won't notice either.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

On the bright side, maybe they'll see it as a sign that you need a higher limit and give you an early CLI 😊

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By that logic, they should start giving people with bad credit lower APRs since they probably need to save money the most.  

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I know, I was being facetious. But I do agree with the fact that a lot of usage theoretically should help get cli's. As long as the rules are followed I guess. Then again I've read a boatload of posts on here about people getting good cli's and barely using the card. Its always a ymmv thing, I guess.

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So was I 

Agreed.  Definitely YMMV type of deal.  I opened a Toys R Us credit card last year at the checkout stand, used it only once for ridiculously small purchase (less than $100 if I remember correctly).  Paid it off days later, didn't use it again, less than six months later, limit was tripled. 

On the other hand, last week my roommate got an auto CLI from $500 to $2400, despite carrying a maxed out interest-induced balance for six months on his Barclay card.

[Anonymous]

That's what I was wondering, if my score would be impacted. Thanks for the responses.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

On the bright side, maybe they'll see it as a sign that you need a higher limit and give you an early CLI 😊

---

By that logic, they should start giving people with bad credit lower APRs since they probably need to save money the most.  

---

I know, I was being facetious. But I do agree with the fact that a lot of usage theoretically should help get cli's. As long as the rules are followed I guess. Then again I've read a boatload of posts on here about people getting good cli's and barely using the card. Its always a ymmv thing, I guess.

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So was I 

Agreed.  Definitely YMMV type of deal.  I opened a Toys R Us credit card last year at the checkout stand, used it only once for ridiculously small purchase (less than $100 if I remember correctly).  Paid it off days later, didn't use it again, less than six months later, limit was tripled. 

On the other hand, last week my roommate got an auto CLI from $500 to $2400, despite carrying a maxed out interest-induced balance for six months on his Barclay card.

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So funny you mention that. I went to the grocery store a little while ago and I wanted to use my Barclay MasterCard (double points) but the balance is getting high so I had another card out but at the last minute gave the girl the Barclay. It's at about 70% right now but I wanted the extra rewards and I want to see what happens after 6 months. Won't use it anymore until I pay it. I don't freak out and pay cards multiple times a month, I'll just use another card until I pay the bill around the due date. We'll see what happens in a few months.

[Anonymous]

I really think I have confused the credit to debt ratio. Is the utilization part of the score only about what your last statement shows. I was assuming they look at past statements and how much credit you use every month.

[Anonymous]

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@Anonymous wrote:

I really think I have confused the credit to debt ratio. Is the utilization part of the score only about what your last statement shows. I was assuming they look at past statements and how much credit you use every month.

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It's whatever the percentage of your credit limit you still owe when the card reports in relation to your credit line. That's what other lenders see. If you have a limit of $500 like yours and you use $499 of it but pay it down to $0 then it reports $0 and looks like you haven't even used it when they pull your report.  If you owe $100 then it reports that which is 20% utilization.

[Anonymous]

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@Anonymous wrote:

So funny you mention that. I went to the grocery store a little while ago and I wanted to use my Barclay MasterCard (double points) but the balance is getting high so I had another card out but at the last minute gave the girl the Barclay. It's at about 70% right now but I wanted the extra rewards and I want to see what happens after 6 months. Won't use it anymore until I pay it. I don't freak out and pay cards multiple times a month, I'll just use another card until I pay the bill around the due date. We'll see what happens in a few months.

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My guess is you'll be fine.  I've yet to hear of a bank declining or passing on CLIs due to single instances of high utilization.  I would assume that kind of stuff will only worry banks when it's done consecutively across multiple statements and rarely paid in full.

For instance, I got declined during a CLI recon call with a BofA credit analyst. She questioned why I carried a balance of 80% for two months, back to back over the last six months - it concerned her that I didn't pay the balance off sooner considering my income is high.  I felt like that was a little critical, but ultimately it seemed like a pretty major factor during the manual review. I would assume that if the analysts would look for something like that, then the auto CLI algorithms for some banks would more or less do the same thing.  But if having a high balance reports for a single month would prevent a CLI, then that's just lame - what's the point of credit in that case. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

So funny you mention that. I went to the grocery store a little while ago and I wanted to use my Barclay MasterCard (double points) but the balance is getting high so I had another card out but at the last minute gave the girl the Barclay. It's at about 70% right now but I wanted the extra rewards and I want to see what happens after 6 months. Won't use it anymore until I pay it. I don't freak out and pay cards multiple times a month, I'll just use another card until I pay the bill around the due date. We'll see what happens in a few months.

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My guess is you'll be fine.  I've yet to hear of a bank declining or passing on CLIs due to single instances of high utilization.  I would assume that kind of stuff will only worry banks when it's done consecutively across multiple statements and rarely paid in full.

For instance, I got declined during a CLI recon call with a BofA credit analyst. She questioned why I carried a balance of 80% for two months, back to back over the last six months - it concerned her that I didn't pay the balance off sooner considering my income is high.  I felt like that was a little critical, but ultimately it seemed like a pretty major factor during the manual review. I would assume that if the analysts would look for something like that, then the auto CLI algorithms for some banks would more or less do the same thing.  But if having a high balance reports for a single month would prevent a CLI, then that's just lame - what's the point of credit in that case. 

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Exactly,  that's what the credit line is for. I'll pay it off when it's due. Since I found this website I've gotten obsessive about the reporting and the score etc. it's good to be informed and wary but I've got to make sure I don't go overboard with it. I guess I look at this board as a break from the mundane. Learned a lot so far and have a lot of fun too.