I have a credit question. I am a student with one credit cart with a 500 dollar limit.....?

Question

does it look bad on my credit reports if I am charging almost 500 dollars each month, and almost mazing out, even if I never carry a balance from month to month and pay it all off?

Answer 1

Just try not to max out - you should be ok.

Answer 2

$500 limit is not huge (compared to the average american debtor who manages to get in hock for the rest of their lives with no idea of the impact) and it's better for them if you have a balance forward every month but better for you if you pay it all off.  good for you for getting a handle on this while you're young.

Answer 3

If you are paying it off every month than I would say you are find... just watch those over the limit charges.

If you are really paying it off every month, than you should look in to getting a card that pays you rewards... like cash back or something.

PLease please please be careful with your credit. I got my first Credit Card in High School, and reeeeeeeeally got myself in to a lot of trouble.

Seriously, please please please don't ruin your credit... it can take years to recover.

Answer 4

footflash is right, as long as your paying the full balance every month you are fine-- better than fine, you aren't paying any interest! very smart of  you.

if you are afraid of going over your limit, then ask for a credit limit increase.

and yeah, you should look into a card that rewards you for being responsible. keep up those good habits!

Answer 5

You are doing the right thing. As long as you don't go over limit and are paying the balance in full each month, you are helping build a credit history!