Anyone here happen to know if the 30% credit card rule applies to your total overall credit limit or just one credit card?

[Still-alive]

Might be a long shot but if anyone here knows this answer i'd appreciate it. i got 3 credit cards and my overall credit usage is below the 30% recommended limit BUT a couple of my cards individually are over their own 30% of their totals... so i was just wondering if my score will be negatively affected or not if my overall total is 30% even though two of the cards are over it?

Thanks to anyone who knows the answer

[Cute_Miss_Laura]

I honestly don’t know about this 30% rule. BUT…. I do know that the best way to get good credit is to buy something and pay it off, while NEVER being more than 30 days late on your payments. I do know that maxing out your credit is never good, and the best credit is obtained if your total CC debt could be paid off in less than one year on your current income! I deliberately took out a few small loans, made the payments, and then paid off that loan with the money I borrowed, I repeated that a few times and my credit score went up. Paying the loan off in less than 30days would NOT increase your score nearly as much b/c there was no record of payments. Like w/ my Jeep. When I got the Red one, I was over 18, and I financed it, even though my lawyer approved it as an “educational expense” for “reasonable transportation costs”. He was the one who made 6 payments, and then wrote a check and paid off the loan. Now, I’m absolutely SURE he charged me $650 per/hr for every payment, but that move established my credit, and now it's really good. My old black Jeep was paid off the same way. Although I was a minor at the time, it’s still on my credit report. So by borrowing, paying off a little then paying the whole thing off, you’ll improve your credit. Try borrowing $500 (or whatever the bank minimum is) from ur bank, if ur credit is not THAT good, use $500 in savings as security. Tell them it’s for repairing damages to ur apartment or something, but you don’t want to use ur savings, b/c you want to improve ur credit. DO NOT SPEND THE MONEY!!! Instead make 3 payments (using the money you borrowed, then payoff the loan! All it will cost you, even at 10% APR, $50.00 per year in interest, or $4.18 per/mo in interest. over the 3 mos that’s $12.54 TOTAL in interest, and you just give them back the rest of their own money on month three. Now do that a couple times a year, and your credit score will leap up within that year.

I hope this helps, even if I didn't know the 30% thing.
Sincerely, Laura 🥰 🤗

[Still-alive]

Well the 30% is more of a guideline, they say don’t spend more than that much to still maintain a good credit score. My confusion is just if thats your total credit limit or on each individual credit card if you have multiples. So it’s looking like the answer is total credit limit. But also still bad if any of the cards are maxed out.

I think i got about $5400 to work with in this case.

[Aubrey97]

It is your collective usage of all credit cards you have. 1 or 2 being over 30% is not important if the other weighs the average down.

[Still-alive]

Thank you

[GoodGuyBreakingBad]

I have about 4 places and cards and I pay my credit before the due date, and I never pay late, and I don't pay after the due date I try not to get any late fees.

[electromagnetic]

I don’t know that rule. I just know, spend the money when you’re out, then get home and tracer from chequings. It’s my way to not overspend.

[loves2learn]

It’s about collective limit. I think you are good.

[DrPepper12]

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