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Ryan4444

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Has anyone used Paypal to max out card and pay back before reporting?
Has anyone used Paypal to max out card and pay back before reporting?

Hello. I'm 35 and just received my first CC, it has a $2k limit. I'm trying to build my score ASAP, and I was reading an article on credit utilization/limit increases etc. It seems that maxing a card out, and paying most (90%+) off before the statement/reporting date will help your score etc., and still show less than 10% utilization.

My issue is I don't spend a lot of money, and do not see myself coming close to spending a total of $2k in a month.

I'm curious if paying myself with the card via paypal (or similar), and then immediately paying off the card is worth the fees and hassle to improve my score and credit limit?

I have a good paying job and have always preferred paying in cash, but I would like to have a great credit score.

Thanks!

On a funny note, I paid off my only debt ($5500 student loan) in full, and my score did not budge. I received this CC, and jumped up 51 points instantly. Go figure.

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First off there is no ASAP with Credit Score's or Credit History.  It all takes time.

Great Credit Score takes time as in Years and years of perfect credit history.

No it is not worth the fees to try and do what you are thinking.  98% chance it will backfire on you.

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