Credit card spending limit help?

Question

I'm new to this i was weary about getting a credit card but i just decided one day what the h**l i need to raise my credit score so yeah i'm curious about the spending limit on it lets say ur limit is 1000 can u keep buying stuff thats under 1000 or u cant buy stuff thats over 1000?

Answer 1

If you have a credit limit of $1000.00, then the credit card company will stop you from buying more sometimes.  If you go over the $1000 limit, they usually charge you $20 to $40 depending on the bank.  

One suggestion about credit cards, if you can't pay for the item now, don't buy it and pay off the card every month!

Answer 2

A crdit limit is exactly what it sounds like.  You cannot make purchases for a total amount of over $1,000.

Answer 3

If you want to improve your score keep your spending below 30% of your limit every month ($300.00) and pay it off every month in full before the due date.

Answer 4

the one thousand limit it the maximum that all your purchases can total. If you have a balance from the previous month that is included in the total.  Responsible handling of your credit card is good for your credit score BUT here are some important suggestions.

1. Look for a credit card with rewards.. The rewards are small but if you use a card regularly it can add up in a years time.  Most discover cards offer rewards but so do others.  read the offers carefully.

2. Get a card that does not have a fee

3. Except in the most dire emergencies buy only those items you would ordinarily buy at prices that you would usually pay

4 pay off the full balance as soon as you receive the bill

5 If you have recurring bills like cable tv or internet service or utilities ask if you can arrange for direct billing to your credit card.  (you will continue to receive bills so you can check them out before your card is charged and they will draw out the exact amount on the very last day so you do not need to keep track of mailing dates etc.  To do this you will need to be sure that you keep a sufficient balance in your checking account.  Keep a ledger! This is a great convenience and will increase your rewards.

6 If you use the card for cash withdrawals be sure to check about fees as well as atm fees.  Drawing out $10 and paying a $1 atm fee and a $1 credit card fee is not very wise.  Also note that some businesses like "pay at the pump" stations may add to your bill if you use a credit card..if they do then pay inside or use a station that does not do this.

Good luck and congratulations on being interested in your credit..good credit is an asset that will be important to you...