HellBill » Hell Bill Area: » Pay Bill/ Pay Bills » maintain a credit utilization below 30 percent my limit is $300 and my bills are higher.

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  #1 (permalink)
: i want to maintain a credit utilization below 30 percent. however my limit is $300. if I pay lets say on a $250 bill $90 then pay off the $90 balance on my card, then pay another $90 using my card, so on until the bill is payed. will my credit utilization still be 30 percent or is every single transaction in the month irrespective of when I pay it off, still counts toward my debt to credit ration.

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  #2 (permalink)
: I *think* that you need to carry over a balance of $90 or less from statement to statement. Don't forget the finance charges when figuring that amount. It might be easier if you just pick one bill that is around that amount. Don't let the balance exceed the $90!
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  #3 (permalink)
: If you pay the balance in 90 days, you don't have to worry about percentages. If you only make the minimum payment each month, that's when you should worry about percentages.
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  #4 (permalink)
: While it is true that utilization plays a part in your FICO score, it is not worth the effort to figure out exactly when your card updates to each credit bureau and then schedule charges and payments to create the perfect utiliztion rate -- which is probably higher than 30%.

You are confusing utilization with carrying balances. Carrying balances of more than 30% of your limit will hurt your score. Pay off the balance and your score immediately rebounds.

Don't make yourself crazy. Just use the card for regular purchases and pay the statement balance in full every month. That will build credit and avoid interest. It makes no difference what your utilization percentage is as it all evens out in the end.

Keep in mind that credit cards only update to the credit bureaus once a month. Whatever shows on your account at that time is what is reported. It's only overall activity, not each transaction.
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  #5 (permalink)
: If you can't live by only using 30% of your available credit then you are spending to much money in regard to your income. The can not continue. You will have to cut back on expenses of find a job that pays more.
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