Credit score and card spending?

I hope this is the right place to ask. If I spend over my spending limit, say $300, by paying off my card multiple times in one month to where my available credit goes back up to $300, then keep spending, will it negatively affect my credit score?

Like:
$300 limit
Spend $150
Pay off Jan 4
Spend $150
Pay off Jan 15
Spend $150
Pay off Jan 27

Total spent: $450

As long as my balance is $0 by the end of the month, everything is good, right?

Shouldn't hurt, but probably wouldn't help.

At any given moment they keep a running total of available credit.

So if your limit is $300, and you send the $500, they count the balance as -$200 and you get that "credit, no money due" label at the top of your bill.

I don't know that it would HELP your credit though.

only your aggregate credit limit matters. They report your balance and payments for every statement

With those values (300 limit / 150 spend), it's not too bad. Ideally you wanna request a credit limit increase, but keep doing the 150 spend / pay it off thing. Low utilization (% of limit) will definitely help your score.

You should be good though as is, it won't hurt your score. The above's just as you wanna try to increase your score.

It's best to spend 50-75% of your limit and pay it off each month, I would just buy something from myself with my credit card, it would go to my PayPal, and then I would send the money back to credit card. It's how I got a 730 credit score by 21

that's fucking retarded, you can just use it to buy shit instead of cash. wtf Veeky Forums
OP just keep your credit utilization low and pay it off before the billing cycle completes

is probably right.

Years ago I worked a job where I had to travel every other week. The company would book the flight, but I expensed everything else.

So each month I would charge hotels, cars, etc, and then pay it off at the end of the month when I filed by expense report.

Credit card company eventually upped the credit limit to about 30k

Aggregate as in annual?
>Low utilization (% of limit) will definitely help your score.
Alright, awesome.
At that point I'd just go into a credit union and take out a shared-secured loan, then pay it back. I use the credit card for convenience.

Your credit score is based on a number of things and one of the things is the % percent that is being used at the time the check is ran. Spending 1000 in a month on a card with a limit of $300 is not going to hurt you as long as you are paying it off over and over again to stop from hitting the limit, but if you want a high credit score for a specific thing like you're taking out a loan, try to have around 20-30% credit usage or less.


$300 is really low though, so if that is your limit I assume you're just starting out. If you've had credit for awhile and only have a low limit like that and want more for rewards you should try contacting the company and requesting more, but if you're just starting out they aren't going to want to do that. Just keep paying it off in full, I started building my credit at 20 years old 5 years ago. Started with a $300 Wells Fargo card that I had to put a $300 deposit on, kept paying it off, in a year they refunded my deposit so that account was purely credit. A little after that I got discover card because they have good rewards with a balance of $1000, bought everything I wanted with that and kept paying it off in full, they bumped my limit to 3K and now more recently 10K without me even requesting it. Now I have a 790 score purely off paying off cards in full every month, never had a loan, never paid a cent of interest and got a bunch of cash back money from discover.

Yeah, getting a good rewards card is one of the goals. I do have an auto finance on my credit score that's only about 4 months old, and with that and the credit card I'm hoping to build up a good pocket of credit in the next year or two.

To second this 20-30% utilization, it's what a few of my friends who are into that whole reward-maximization scene recommended.

So is that monthly spending or in regards to up to your credit limit?

I believe it's simply not exceeding 30% in regards to your total credit, so you paying it off before it hits that multiple times is all good.

No, aggregate as in credit limits of all revolving accounts.
I don't think loans count but I'm not entirely sure.
for example if you had 3 accounts at 300 and you only went over the limit on one, they'd consider you being at ideal utilization.

It's in regards to your limit. When I had a low limit like the 1K I had on Discover at the start, I'd charge like $2000 to the account over black friday and surrounding sales and top the account off with money to it below limit and it didn't hurt anything. The only thing that matters for the score is the percent of credit used at the moment the check is ran.

Very informative, thanks Veeky Forums

Building a credit score is easy. It just takes time.
>pay off card every month
>keep utilization below ~20-30%
>refrain from opening new lines of credit for a few years
>live below your means. Only use your card(s) if you know you can pay it off that month*
>*unless you need to use it in an emergency

I buy groceries and gas, and i pay my utilities with my credit cards. Low consistant usage, and i pay them off immediately.

t. 24 y/o with 795 cs

Yeah, I'm 22 right now, I have like a 580 and 620 score but I only just started building credit. I'm glad I'm starting when I did though, despite it being a little later than some.

It's mostly be using it for bills and such, like insurance, and then just paying it off after. I pay bills every month, why not let my credit card come into account for some of them? Paying the same amount anyway.

Also, that's from 3 months of auto loan payments and no visible credit card usage yet. It'll take a good few months for everything to be reported and such.

Can someone explain to me what the benefit is to using a credit card (then transferring money from my eftpos over to my credit card), as opposed to just using eftpos?

Do you improve your credit score by using a credit card and paying it back, or is simply not using it equally as benifical?

Also if using your credit card builds credit score, why shouldn’t I just transfer money over to my credit card so I always have a surplus on it? That way I wouldn’t have to worry about topping it up after using my card.

Lastly is anyone here looking to pic up a Monaco card?

I'm not familiar with eftpos, but here at least: yes, using your credit card and paying it back helps your credit score a lot. For example, before getting a credit card, I didn't have a credit score at all on any of the score checkers.

A side benefit can be getting points that you usually use for airline tickets (or cash back, whatever special your card's got).

I'm not sure what the affect would be of you topping up your credit card beforehand would be, but either way you would at least get points.

Lmao only a 795? What a cuck

Dont be a piece of shit nigger.
Go to one of the crypto threads.
You will fit right in. Douche

2/10 for making me response. You're just being a fuckface that is a lot good goy points.