bn93 wrote:will this hurt my credit because of the ratio of spending 700 dollars when my limit is only 1200?
It will be bad for your score due to utilization. However, for later statements if you keep your balance low then it's not a big problem and score will go up again over time.
If you don't plan to get new loans (including credit cards) soon then it' may not too horrible if you put a high balance there, since you pay the bill and are not delinquent.
If you would like to have the utilization low, you can pay down the balance before it reports so that what reports will be a lower number.
bn93 wrote:I'm going to pay it off in full when i get the statement.
Paying in full does not prevent the balance from reporting, if you pay after the statement (which is usually when it reports). However, on the next statement after this one, you should see your payment getting reported and balance presumably going down.