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Revelate
Posts: 8,334
Registered: ‎12-30-2011
Re: Is charging to limit a bad thing?

Sassy_Taurus wrote:

I have a Orchard card with a $300 limit and a Capital One card with a $200 limit. Every month I pay the Cap 1 card to a zero balance and Orchard to a $20 balance before the statement closes. My question is by maxing my cards out monthly even though I pay them down is that hurting my fico?


No, and it will likely be viewed as a positive both by your current lenders (ok, maybe not C1) but certainly others when it comes to manual review.

 

Lenders like people who are using their cards, that's unarguable, and you've already established the pattern.  You'll be fine.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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