Max out CL hurts Credit Score?

[TyRacing]

Would it hurt my credit score if i max out my new Uber visa card with $500 CL? And letting it be reported?

My total CL from my other cards is $46.4k + $500 from the Uber card

Thank you for your support!

[staticvoidmain]

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@TyRacing wrote:
Would it hurt my credit score if i max out my new Uber visa card with $500 CL? And letting it be reported?
Thank you for your support!

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Short answer, yes.

[Brian_Earl_Spilner]

Yes

[TyRacing]

So i would need to pay it down before statement close date?

Should i pay it down to 29%, 9%, 4% util?

[Anonymous]

man, call them up and say hi i'm mr so and so with a 15k amex card, why did you give me a $500 limit?

they will almost certainly increase it, but might want a hp for it.

[staticvoidmain]

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@TyRacing wrote:
So i would need to pay it down before statement close date?
Should i pay it down to 29%, 9%, 4% util?

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The lower the better. For me, it seems like Barclays reports exactly on my statement date, so yes, I will try to get it reduced before the statement date.

[Remedios]

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@Anonymous wrote:

man, call them up and say hi i'm mr so and so with a 15k amex card, why did you give me a $500 limit?

they will almost certainly increase it, but might want a hp for it.

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😐

No, they most certainly will not increase it because of that. If you want to test that theory, call your other two lenders, and demand they match limit Amex gave you. 

@TyRacing  how much to pay it down simply depends on what you want to see scoring wise and it will also greatly depend on your aggregate utilization, also. 

If you want to preserve your score as much as possible, pay it down to below 9%. Some profiles don't see much in terms of "damages" till it crosses 29% or higher. 

AA wise, I don't think you have anything to worry about short term. 

So, it's really up to you as far as how much you want to "experiment" with your scores, but only if you're planning on paying in full, especially with Barclay being as temperamental as they are. 

There was an article floating around from their own blog stating they like to see utilization at around 20%, so that's something to keep in mind, too. 

Of course now I cannot find the link, but that was the gist of it. 

[BlueSea]

Very little. If your overall utilisation is low, this card will have little impact. I have the Uber card with $500 and don't care what utilisation they report as long my big cards are fine. The impact is minimal.

[TyRacing]

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@Anonymous wrote:

man, call them up and say hi i'm mr so and so with a 15k amex card, why did you give me a $500 limit?

they will almost certainly increase it, but might want a hp for it.

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Love to increase it, but i think im pushing my luck. They might cancel it, no?

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[staticvoidmain]

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@TyRacing wrote: Love to increase it, but i think im pushing my luck. They might cancel it, no?

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When did you open it? When I requested a limit increase, I requested a CLI, same day. The person I opened my account with did not give in with my request of getting it increased. 30 minutes later, I called and had it increased to a more reasonable limit by a more reasonable person.