Credit Limit ...

[danisgods]

Guy's, lets say i spend a good 90 to a 100% for my credit limit regularlly ,i know it is not good at all, but what if when the bill comes out i pay it in full ,doens't it help ? i mean the same way lenders see us as high risk because we spend so much of our limits, they might just see us as responsable users as well because even though we used it all, we also paid it all back IN FULL, its gotta mean something right? or NOT?

[Wolf3]

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@danisgods wrote:

Guy's, lets say i spend a good 90 to a 100% for my credit limit regularlly ,i know it is not good at all, but what if when the bill comes out i pay it in full ,doens't it help ? i mean the same way lenders see us as high risk because we spend so much of our limits, they might just see us as responsable users as well because even though we used it all, we also paid it all back IN FULL, its gotta mean something right? or NOT?

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IMO, It helps a great deal with your current lenders.   They know you can handle that much each month. 

I'm in the minority here, but  I only worry about utilization when I am planning to apply for credit.

[vanillabean]

Worrying about utilization only when planning to apply for credit doesn't take the unexpected twists of life into consideration. That's the basic premise of insurance.

It's also not responsible to pay in full by the due date. You're always behind, the basic premise of credit. To pay every month before the statement date is much better.

[Anonymous]

OP,  I agree with my-own-fico if you are just looking for to them to see you as responsible person.  

If not ...

1. If that card is the ONLY card you have, you should leave small balance on it monthly.  Then PIF the statement balacne by due date.

2. If you do have more than that card, then it may be a good idea.

Please tell us the following informaiton to help you.

The numbers of your ccs.

Each cc's CL, current balance, and APR.

[Anonymous]

I'm just thinking out loud here, if you just want to show that you're able to pay off your current usage of 90-100% of your credit limit to the creditor, you still can pay it off BEFORE the statement date too, no? Leaving only a small balance (<9%) to post on your statement ~> credit report.

That way your credit score won't be affected adversely AND you get to show your bank that you're able to pay off what you charge.

If you just want to show financial strength, why not charge 90%, pay it when it posts to your account, charge another 90%, then pay it again as soon as it posts to the account (rinse and repeat however many times you can afford to do it) I used to do it when I only have one card with 1000 CL. Its pretty amazing for the bank to see 5000 dollars usage in a month on a 1000CL while still keeping the statement balance under 50 dollars.

I don't understand why one would let a statement post with 90% credit used up, when the game rules clearly punishes you for it.

[Pushto700]

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@Anonymous-own-fico wrote:

Worrying about utilization only when planning to apply for credit doesn't take the unexpected twists of life into consideration. That's the basic premise of insurance.

It's also not responsible to pay in full by the due date. You're always behind, the basic premise of credit. To pay every month before the statement date is much better.

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+1 This is exactly right. BEFORE the statement breaks. Minimal (if you take cash advances), or NO (if you only swipe) interest to pay.