Spend almost 100% of your available credit

jimjames

Krisko wrote: »

That makes sense to me, but I'm sure I've read on this forum that you shouldn't use more than 50% (ideally 30%) of you're available credit. Is that just if you intend to carry a balance?

If you're spending 50% each month and paying off the whole balance you'll need to keep within 50% anyway - otherwise with 2 months balances just before it is paid off you may go over your limit.

suse*

My understanding is they look at your total availible credit limits, not just what you haven't spent on them. You could just run them all up anytime you want so if your income is 10k your credit cards, overdraft etc add up to 20k say they won't give you much more than that to help you stop yourself getting into trouble. It isnt that if you only use half of what anyone gives you they will keep giving you more as there is nothing to stop you just going on a spending spree tomorrow.

JimmyTheWig

If it were me I'd use it for everything that I wanted to use it for.
If I was getting reasonably close to my limit (e.g. balance > 60% or 70% of limit at any time) then I'd ask the card provider to increase the limit.
They will be able to see sensible usage (e.g. paying off each month) and should agree to the increase.

LittleVoice

JimmyTheWig wrote: »

If it were me I'd use it for everything that I wanted to use it for.
If I was getting reasonably close to my limit (e.g. balance > 60% or 70% of limit at any time) then I'd ask the card provider to increase the limit.
They will be able to see sensible usage (e.g. paying off each month) and should agree to the increase.

Alternatively, make an interim payment to the card account to free up the same amount of credit as you have paid off.