I know that you should pay your credit card off every month. I have a credit limit of $500. If I use that up and keep paying it off multiple times within that month, will that raise my credit score?
Most Helpful Guy
No, only because part of the credit score is a percentage of your credit limit vs your outstanding balance. There is a low percentage of your available credit line that you want to keep your balance under. Don't ever max cards if you don't have too. Paying the minimum on time also builds the score faster from what I understand, the key is to never have a late payment. Also, too many credit inquiries, credit applications, other credit card debts and loans, all factor into your credit score. Go to the federal trade commission's website, they have a ton of info for consumers on credit.0