I want to charge about 2500 for tuition on a card in which my limit is 3500. I will pay it all off when the statement comes in the mail. Will that have any negative effects on credit rating etc?
nyyanks I think the rule of thumb is to try not to charge over 50% on a single card. however - if you gotta do it - do it - that's what cards are for, I'd suggest to try to pay back a little over $750 as soon as u can to keep the card below the 50% usage.
Usually they report your ending statement balance, however, if you can make the payment before your statement closes you should be ok.
nyyanks, If you're concerned about your credit score pay the bill in full before the statement date, otherwise it will show the balance of the statement. If you pay before the statement balance it will show $0. To be perfectly honest, I say use the freaking card and pay your tuition with it (if you don't have the cash). Before the bill is due pay it in full. There is no point in having credit if we're constantly on the watch for our score. I have gotten to the point I am only concerned about my score right before I apply for any loans or CCs, otherwise mine varies from 680-760 each month (depending on card usage). Hope this helps. Dani
