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Am I making things worse?
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Posted by UT Diver
(198.81.26.74) on January 05, 2004 at 01:08:37:
I have my small credit card with a $200 limit. I charge it up and pay if off in full each month, in the hopes of increasing my FICO. The problem is, the CC Company doesn't make the funds available until 7 days after receiving payment, even though it was paid with an EFT. I have had an auto transaction (AOL account) clear a few times, after I have sent payment, which has put me over my limit a couple of times by a few dollars. Each month, I come close to my limit, but I do it just because I thought it was a good thing -- to use it and pay it off. I have never paid a dime of interest on the card in 7 months. Could this actually be hurting my FICO instead of helping it? Especially since I have gone over my small $200 limit? All charges have always been paid for within the interest-free grace period. The only reason I ask is because I read on here that I should always stay away from the limit to increase my score. I am being reported as Current/Never Late.
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