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  1. #1
    Registered User Pro Member

    Best Way to Improve Your Score - Charge a high limit or low?

    What if I charge my credit card up to 80 or 90% then pay it off quickly?

    Will that raise my score higher than if I charged just 10-30% of balance and paid it off?

  2. Best Way to Improve Your Score - Charge a  high limit or low?
  3. #2
    This is a good question. I personally think you should keep all your balances on the lower end. You are playing with fire when you don't. And, it all depends on when the lender makes reports to the credit reporting agencies. Many of them do not do it on a weekly basis, usually monthly. But, what if they only report to the credit agency every three months? What if they show high balances on your report for three month before showing payment of the account?
    Need a Card to Build/Rebuild Your Credit With? Read This >> Best Credit Cards For Building Your Credit

  4. #3
    I believe you are a higher risk since you are borrowing more money. The odd thing is the creditor wants you to use their money and pay interest on it which helps them. On the other hand, you are penalized in the form of your credit score when you take on lots of debt above 30% of your available credit limit.

    You only win when you use less of it and pay it off quickly, preferably in the same month. It's ironic isn't it?

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