Comments on: I just maxed out my first credit card, how bad will this effect my credit rating? http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating Your Source for the Best Credit Card Deals Wed, 21 Jan 2009 01:04:59 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: The Ball Coach http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating/comment-page-1#comment-704 The Ball Coach Sun, 11 Jan 2009 06:09:59 +0000 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating#comment-704 You don't want to pay the card all the way off. Leave at least 30% on there to optimize your credit. One thing you can do is call the credit company and ask for an increase in your credit limit. Chances are that if you have a 650+ they will give you the increase. Going over the limit does hit your credit score quite a bit. I have seen plenty of credit reports with scores under 600 with 0 lates just because the balances are too high.<br><b>References : </b><br>I work as a mortgage broker. You don't want to pay the card all the way off. Leave at least 30% on there to optimize your credit. One thing you can do is call the credit company and ask for an increase in your credit limit. Chances are that if you have a 650+ they will give you the increase. Going over the limit does hit your credit score quite a bit. I have seen plenty of credit reports with scores under 600 with 0 lates just because the balances are too high.
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I work as a mortgage broker.

]]> By: Mike http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating/comment-page-1#comment-703 Mike Sun, 11 Jan 2009 05:35:59 +0000 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating#comment-703 It will probably take a pretty good hit... BUT just make at least the minimum payment on time. And once you pay it down, your score will go back up. Maxing out your card has very little long term effects.... so once you are reported at below 60% again, your score will go back up.<br><b>References : </b><br> It will probably take a pretty good hit…

BUT just make at least the minimum payment on time. And once you pay it down, your score will go back up.

Maxing out your card has very little long term effects…. so once you are reported at below 60% again, your score will go back up.
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]]> By: amberjohn123 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating/comment-page-1#comment-702 amberjohn123 Sun, 11 Jan 2009 04:57:59 +0000 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating#comment-702 it should not go down to much if you make your payments on time! do not slip up or your score will not only lower but you will be charged more interest late fees etc.<br><b>References : </b><br> it should not go down to much if you make your payments on time! do not slip up or your score will not only lower but you will be charged more interest late fees etc.
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]]> By: Mildred S http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating/comment-page-1#comment-701 Mildred S Sun, 11 Jan 2009 04:47:59 +0000 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating#comment-701 call the company and ask for an increase in your credit line. then you will not look as high. they want to extend to you credit. call them every couple months and ask for a bump up. if you have been on time they will usually do it. you can also apply for another card with a low rate and balance transfer.<br><b>References : </b><br> call the company and ask for an increase in your credit line. then you will not look as high. they want to extend to you credit. call them every couple months and ask for a bump up. if you have been on time they will usually do it. you can also apply for another card with a low rate and balance transfer.
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]]> By: asjrb http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating/comment-page-1#comment-700 asjrb Sun, 11 Jan 2009 04:04:59 +0000 http://www.icreditcardsource.com/first-credit-card/i-just-maxed-out-my-first-credit-card-how-bad-will-this-effect-my-credit-rating#comment-700 Running the credit card to the max will hurt your score. You never ever want to reach more than 50% ever. Find a credit card that will give you couple of thousand dollar worth of credit and transfer the a/c.<br><b>References : </b><br> Running the credit card to the max will hurt your score. You never ever want to reach more than 50% ever.
Find a credit card that will give you couple of thousand dollar worth of credit and transfer the a/c.
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