Thread: Using 50% of credit limit regularly, what should I do?

Hi all, recently surfing on CCF and just saw lots of posts talking about not exceeding 20% of credit limit. Therefore I'm debating to get another credit card or not since I am using 50% of my credit limit regularly. So let me give some brief information of myself

• I am a 22yr old college student, currently have a credit card under my family since 08 and a Citi mtvU card (since 09) as my start up card on my own account
• Have student loan about 3k (probably will still increase next year since I will be staying in school for another year, est graduate is 2013)
• Now Citi had increased my credit line from 500 to 1000 a year after i got my card
• But monthly spending are mostly around 400-600 (sometimes even higher, around 1500, rarely tho) and they never increase my credit line...
• I always pay in full (when exceeding limit, I pay it off first then kept spending), never missed a payment
• Pulled out my FICO score today and my score is 736 (I was surprised that the card under my family was in my credit report...)

And as I mentioned above, I'm debating if I should get another credit or not
Looking to get a card from Amex so I'm debating of the following cards:

1. ZYNC
2. Gold Card
3. Other suggestions...?

Mainly just everyday spending, but every year I go to Taiwan once during the summer... (but since I could not use my citi mtvu card due to the low credit line that I have...)

And last question.. will it affect my credit score due to the spending on my credit card mostly go over 50% of limit?

Thank you all

I would DEFINITELY get that 50% down, more to the tune of 20%-30%...now about an additional card, I would say yes only if you have good credit (which you say you do) and are not willing to reduce your spending, so that's probably a yes. I would do some homework on what you want...Amex is very good, and Zync is probably the best choice since the fee is only $25 per yr., or if you want another rewards, cashback, etc. card. Remember to never settle with a card just "because", make sure you like everything about it, from the colors and design to the customer service. Hope that helped.

Thank you for the reply

After doing some research, found out the Zync card would not be able to upgrade to higher cards (green, gold, platinum..etc). Green card would cost almost the same to gold ($95 compared to $125), but then gold has more reward points multipliers.

As consideration for me often traveling abroad (once a year to Taiwan), and having low profile tires on my car with really bad road in NJ. Having travel protections and roadside assistance is a huge plus compared to the Zync card.Another plus is the extended warranty, I would be able to buy camera lenses for an extra warranty, why not?

And besides, its like $10 per month for that annual fee. I'd rather have this than have Netflix.

Results

Applied AMEX Gold, and got it. Now I just have to wait for 7-10 days

Thanks again for the reply and suggestion, Moneytalks

Congrats!!!! I'm going to upgrade mine when I get a invite Best of luck and use it well!