lashaune
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Yes. Any credit card that you have maxed to the limit brings down your credit score. The ultimate is to pay it off in full each month, but if you must carry a balance, pay more than the min. payment (like $50 or $60 ) each month and only use it in case of emergency.
You can check the CitiBank website to learn how to use your credit cards wisely: http://www.citibank.com/us/cards/cm/ |
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hirebookkeeper
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Yes, shows you cant follow the rules. |
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insomniman1
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if your CC is that maxed out your score will soon crash any way. |
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skylark455st2
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yup. It will show you over the limit which by the way adds another fee, Pay at least $50 more than the minimum payment every month till the thing is paid off. They have also probably raised your interest rate as well. Try calling to CC company to see if you qualify for a special payment program. I had one that suspended all fees and interest charges for 6 months providing I signed up for auto pay from my checking account. The six months just ended and they lowered my interest rate. |
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Ellak M
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Yes. Whenever your credit is maxed out that brings your score down. Lenders like to see available credit on your report. However, if you have more then one card, and the others are at 0 balance, or close to 0 you will be just fine and even look good to lenders. |
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lawmom
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Yes. Your credit rating is partially determined by your ratio of credit to your balance, and you have knocked that ratio on it's head. |
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Right2Censor
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Yes it does because, your credit card company reports to the bureau that you are over the limit which lowers your credit score. |
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mephisto250
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Very much so. Going over your limit due to interest is the same as going over your limit because you made a purchase. If you pay it off the next month and are not overdue on your account, it won't be too bad; however, if you keep going over your limit you will have to pay the penalty every month, which will put you even deeper. |
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g1dashizal
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more likely to hurt youre wolet than you |
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Axcelsior
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No but there my be negative reactions from your credit company. The limit cap is set by your credit card company and is in no way connected to your credit score. As long as you pay the fees and are never late then you should be in the clear. Remember this though the company may reject you future limit increases due to the fact that you have many over the limit transactions. |
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themovieguy73
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yep
pay it in full every month |
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