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This month I went about $50 over my 30% limit of my credit card balance, I paid it in full, like I do every month, but I'm worried about the negative effect on my credit score. With that being said, which is better, keeping purchases under 30% of your available balance or paying the balance off in full every month.
Thanks!
Paying in full before the statement cuts and gets reported is the best thing you can do in terms of payment for your score.
If you're going to let balances post, try to make sure it's less than 9% of your total credit available.
30% isn't terrible, but it isn't great either. If you don't need to revolve balances, don't let the CRAs see them. PIF, PIF, PIF...
Thanks for this, my bill isn't due until the 18th (is that what you mean by paying in full before the statement cuts?) but I went ahead and paid this morning because I wanted a zero balance and I'm being lazy at work!