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clberman

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Credit Card Utilization
If you have a credit line of $10,000, and you must charge a $5,000 purchase, does this have a negative impact on your credit card utilization, since it is more than 30%?

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yes it will affect you credit negatively untill you get it paid to under $2,000 or 20% of your credit limit....keep in mind though you have 30 days from when you make the purchase to pay it off before they charge you interest and if you can pay it off before you statement closes then it won't reflect in the utilization calculations 

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Credit Card Utilization

It makes sense. A balance is a balance.

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