Credit Cards Center Credit cards from our partners
Reply
New Visitor
Posts: 4
Registered: ‎11-26-2013
0

Maxing out Credit Card then Paying in Full?

Hello,

 

I'm new to this forum, and I hope this is in the right place for this question.

 

I was wondering if it is bad to pay for something in your credit card that will almost max it out, but pay the credit card in full right after? I'm doing this to so I can rack up points on my credit card. I know that its only good idea to use 1/3 of your credit limit. But in this case, if I decide to pay my credit card back in full say the next day or even right after the purchase, is it bad?

 

Thanks

Frequent Contributor
Posts: 357
Registered: ‎11-16-2012
0

Re: Maxing out Credit Card then Paying in Full?

Its fine as long as your statement doesnt cut with the balance on it.

 



12/28/13 (Garden Start Date)



Community Leader
Senior Contributor
Posts: 30,805
Registered: ‎02-07-2013
0

Re: Maxing out Credit Card then Paying in Full?


andiruleu wrote:

Hello,

 

I'm new to this forum, and I hope this is in the right place for this question.

 

I was wondering if it is bad to pay for something in your credit card that will almost max it out, but pay the credit card in full right after? I'm doing this to so I can rack up points on my credit card. I know that its only good idea to use 1/3 of your credit limit. But in this case, if I decide to pay my credit card back in full say the next day or even right after the purchase, is it bad?

 

Thanks


Welcome to the forum

Not bad at all as long as your not letting a maxed out card report which would lower scores in that case other than that RACK UP THE POINTS 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Member
Posts: 49
Registered: ‎11-22-2013
0

Re: Maxing out Credit Card then Paying in Full?

I wouldn't hesitate to. It's a rewards card...that's the point. Now if you were to use that and hold off paying until the next day but the statement cut before you did and showed you with a high limit, that would lower your score. But as far as using it and paying it off right after, you should be good.
FICO: 772 (11/2013) TU:760 (11/2013)

AMEX BCE: 10k
Kohl's Charge: 2k
Chase Freedom: 3k
Discover IT: 7.5k
VS Angel Card: 1k
New Visitor
Posts: 4
Registered: ‎11-26-2013
0

Re: Maxing out Credit Card then Paying in Full?

Awesome! Thanks guys!

 

Also, @myjourney, I have that quote "Intelligence plus character--that is the goal of true education" in my email signature hehe 

Established Contributor
Posts: 881
Registered: ‎08-29-2013
0

Re: Maxing out Credit Card then Paying in Full?

[ Edited ]

andiruleu wrote:

Hello,

 

I'm new to this forum, and I hope this is in the right place for this question.

 

I was wondering if it is bad to pay for something in your credit card that will almost max it out, but pay the credit card in full right after? I'm doing this to so I can rack up points on my credit card. I know that its only good idea to use 1/3 of your credit limit. But in this case, if I decide to pay my credit card back in full say the next day or even right after the purchase, is it bad?

 

Thanks


Either way it is bad to max out a card, even close to it even if you pay in full. Never do that.  To a creditor it looks like you can max out a card with the possibility of not paying it back. I wouldn't recommend doing it even if someone disagrees.

New Visitor
Posts: 4
Registered: ‎11-26-2013
0

Re: Maxing out Credit Card then Paying in Full?

Even if I pay it off right after? The other people are saying its fine?

Established Contributor
Posts: 881
Registered: ‎08-29-2013
0

Re: Maxing out Credit Card then Paying in Full?

[ Edited ]

People give different answers and it's really whatever you feel comfortable with. I personally wouldn't max out a card.. it doesn't look good even if you pay it off in full when you get the bill. You don't pay the bill before you get it. 

Community Leader
Senior Contributor
Posts: 30,805
Registered: ‎02-07-2013
0

Re: Maxing out Credit Card then Paying in Full?


andiruleu wrote:

Awesome! Thanks guys!

 

Also, @myjourney, I have that quote "Intelligence plus character--that is the goal of true education" in my email signature hehe 


Words to live by BravoSmiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Regular Contributor
Posts: 147
Registered: ‎10-07-2013
0

Re: Maxing out Credit Card then Paying in Full?


killer_queen229 wrote:

People give different answers and it's really whatever you feel comfortable with. I personally wouldn't max out a card.. it doesn't look good even if you pay it off in full when you get the bill. You don't pay the bill before you get it. 


I think many people pay on their account before the bills cut.  I tend to make multiple payments during the month before the bill cuts.


FICO EQ: 733 TU: 727 CS FAKO EX: 737                                                                                               In the garden since 5/9/13

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.