long story short I had 4 late payments as well as a couple payments bounce back in 2024 for my cards that resulted in them being closed.
since then I've been trying to rebuild credit. currently score is at a 680 and have a 7000$ limit split between 8 cards.
since my late payments seeing balences on my cards gives me anxiety so I end up just using credit cards solely for rewards and then I instantly pay it off
is this hurting me my goal is to raise my limits of my cards and I don't know if paying them off so quickly is gonna prevent that
Am I hurting myself by instantly paying off credit cards when I want limit increase?
byu/honeybooboo2987 inCreditCards
Posted by honeybooboo2987
2 Comments
Yes you are. If you never let any balances report, you’re being hindered by a “no recent revolving history” factor, and from the card issuers side, they have no reason to raise your limits if you never report full balances. Read up on !utilization and have no fear
In terms of getting better limits, yes. Lenders want to see you actually use your available credit before they’re willing to extend more of it. Have to let the statement actually generate first before you pay it