Semi-Urgent: Credit Card Utilization

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Semi-Urgent: Credit Card Utilization

Postby Essential » Tue Jun 25, 2013 4:58 pm

So I've had my card (first one ever) for 2 months now, with a $1k limit. I have spent $220 this month. I want to make another $200 purchase but it will bring my utilization over 30% which apparently hurts credit score.

I can pay off the $220 I already have due (the bill ending cycle doesn't end for another week). This means that my statement at the end of the month should be $200 from new purchase.

Will paying off the money early still hurt my utilization or will it help?

Thanks in advance.

Edit: Used Credit Karma for first time. I'm an authorized user on my dad's card and he has limit of $10,000. It shows me as having 1% utilization because of that. Is that correct?

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Postby MemberSince99 » Tue Jun 25, 2013 9:30 pm

It will only help can't hurt. As long as you report something but it's small, that's ideal.

And yes that's approximately right they are rounding so close enough for rock n roll. No one wants to see something like 1.25292983829012% utilization. It's an approximation to get a whole number.

Don't sweat it, or you'll end up crazy like me :)

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Postby rockyrock » Wed Jun 26, 2013 1:52 am


I wouldn't sweat it too much, it may cause a temp dip in your score but you'll recover pretty quickly if you don't make a habit out of it.

Now, if you are trying to maximize your score to open more accounts soon you may want to track it closer.
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