2006-09-30 12:24:01 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
YES
2006-09-30 12:55:45 · answer #1 · answered by sangreal 4 · 0⤊ 0⤋
You bet. Even going over a third of your credit limit will cost you points on your credit score. The closer you get to your credit limit, the more the deduction. Going over your limit is an infraction that will cost you dearly, although not as much as a late payment would.
If you are using that much of your credit limit, you may wish to consider speaking with a financial or credit counselor. Many of them can help you for free. Make sure they have a satisfactory rating with the Better Business Bureau. Here is a directory of agencies by state:
2006-09-30 12:59:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes. They deduct a lot of points and you are considered a higher risk for lenders. You don't even need to pass your limit. There is another credit score that most people don't know about on your credit cards and that's the utilization limit. It is lower then your actual credit card limit. Here is an interesting article on it.
2006-09-30 12:32:39 · answer #3 · answered by sakura4eternity 5 · 1⤊ 0⤋
This is a hard question for a person to answer when she doesn't have a credit card to begin with. I don't have a credit history either.
2006-09-30 12:26:49 · answer #4 · answered by Bear 5 · 0⤊ 0⤋
I cannot tell you. I never charge things on a credit card to keep a balance. It is a bad habit to get into.
2006-09-30 12:56:56 · answer #5 · answered by Chainsaw 6 · 0⤊ 0⤋
Noshitsherlock
2006-09-30 12:30:55 · answer #6 · answered by waxingtheturtle 2 · 0⤊ 0⤋
definitely does, not only that, going NEAR your credit limit is bad - staying near your limit for a long time is bad news, looks bad
2006-10-01 01:51:36 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Yes. Part of the point system will check your High Balance vs your Available.
2006-09-30 12:26:15 · answer #8 · answered by joeiacovino 2 · 0⤊ 0⤋
EVERYTHING goes against you. If you have bad credit, your auto insurance might even drop you
2006-09-30 12:27:11 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Probably not. Ask lender/card company for a higher limit.
Not paying on time will certainly go against you.
2006-09-30 12:26:57 · answer #10 · answered by Smilin' Fred 4 · 0⤊ 1⤋
Not if you pay off the overcharge on time
2006-09-30 12:30:17 · answer #11 · answered by Anonymous · 0⤊ 1⤋