Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
MatthieuAmherst89

3 Contributions
14 People Helped
Maxing out credit cards, but ulitmately paying on time, will help credit score for long run?
My question is in regards to credit cards and spending. I understand utilizing a certain amount of your credit will lower you credit score. Say a person has a card with a $3000 credit limit. Before using any of this credit the score is 740. I max out card to finance a purchase, and the credit score drops to 670. Ultimately the debt will be paid with no missed payments in less than 6 months. Will the credit score return to being 740? Or will it be lowered due to using max amount of credit? No other credit is being utilized just the $3000 limit.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1134 People Helped

Your score would go back up without any lasting damage from the "max". Remember though, it is usually never a good idea to max out a card, but as long as you are sure that you can get it paid back off quickly, you will be ok with your plan.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.