What are the consequences of maxing out your credit card?

[Anonymous]

[MTC29]

There are a couple of things to look at beyond simply losing the ability to add additional charges to that account.

How many credit cards do you have? If this is your only card, and you have reached the maximum, then you have used up 100% of your available credit. On the other hand, if you have (say) five cards then you may have used as little as 20% of your available credit.

Zero available credit doesn't look good on a credit report, while having 80% of you credit remaining looks just fine. In any case, due to ruinous interest charges, revolving debt is very expensive to carry. Pay that card down as fast as possible.

[exitseven]

it might negatively affect your credit rating. What will really affect your credit rating is if you are late paying the bill.

[exitseven]

Thanks for the MHO😎

[FictionalCharacter]

It’s not good anymore and you get bad credit score. Which is why I don’t use credit card when out shopping 🛍

[BrookeAZ90]

You can't use them anymore? And then the interest starts piling up