Carrying high balances but paying them in full, help/hurt your score?

Question

I used up about $2500 of my total line of $3000 on my Discover card last month, but that balance has only been that way for about a week, since it went up to that amount over the course of 3-4 weeks, and I just now paid it off in full, leaving a 0 balance.

Even though I used WAY more than 50% of my total limit, which is negative for your score, it hasn't been that way for long.

THEREFORE, will this still hurt my score, or does carrying high balances only have a negative impact if it's long term?

I doubt they had a chance to report anything to any bureau over the course of a week or so.

Anyways, for future reference, should I ALWAYS use less than 50% of my total line, or is it okay to go over, just as long as you pay it in full immediately when it's due?

Thanks

Answer 1

The first poster is correct.

Never exceed 30% of your limit or your score takes a hit.

You should consider asking Discover to raise you limit if this is going to be the normal useage on this account.

Answer 2

Depending on what day, you score might have taken a small dip. But paying the balance in full is the most important thing. Your score will rebound quickly.

If you make a habit of charging larger amounts on your Discover and paying it in full every month, Discover will increase you limit about every 6 months of so.

Answer 3

Yes, it will hurt your score. Your balance for that month is reported by the credit agency as your balance. It doesn't matter that you paid it off by the due date.

In the future, you should use less than 30% of your available credit. Anything over that will ding your score.