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mitchellmc

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my credit limit is 300 i max it and pay it twice a month is this bad for my credit

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Yes and No...

Helpful to 3 out of 3 people

Yes it is always bad to max out your credit card even if you pay it off twice a month. The trick to not hurt your credit is to find out when your 'billing cycle' closes. What you want to do is pay off the balance before that date. 2-4 days after that is when your balances are reported to the credit bureaus. If you pay it off before it closes, then they will report a $0 balance and you will benefit from it. If you wait until after, thats when it hurts you. If you cannot pay it off by the time it closes, try to at least pay it down to less than 30% of your credit limit before the cycle closes. That way it won't negatively affect you.

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