"Half Of The Credit Limit"
Total Visa® Card Review
Written by: astrid79 on 2017-02-27
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astrid79's review: 
I recently applied for & was approved for this card. What I've been doing is only using half of the $300 credit limit & then paying it off every month. Don't want to get anywhere near maxing it out. Does this payment strategy make sense?
I recently applied for & was approved for this card. What I've been doing is only using half of the $300 credit limit & then paying it off every month. Don't want to get anywhere near maxing it out. Does this payment strategy make sense?
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5 Comments
Comment 1 by wanderer
Re: Half Of The Credit Limit 
on 2017-02-27
Hard to use a $300 credit limit ... I understand as Capital One gave me $200. That said you ideally want to stay under 10% for max scores but at this stage in your credit life what you propose makes sense. Also, you need to get a good performance track record of six plus months of on time payments. Such a track record goes a long ways to opening credit doors to other lenders and larger credit limits! Best wishes in moving ahead and pat yourself on the back for thinking proactively.
on 2017-02-27 Hard to use a $300 credit limit ... I understand as Capital One gave me $200. That said you ideally want to stay under 10% for max scores but at this stage in your credit life what you propose makes sense. Also, you need to get a good performance track record of six plus months of on time payments. Such a track record goes a long ways to opening credit doors to other lenders and larger credit limits! Best wishes in moving ahead and pat yourself on the back for thinking proactively.
Comment 2 by goldbug
Re: Half Of The Credit Limit on 2017-03-01
Making a small payment each month and paying it off is the best way to build credit, and it does report to all three bureaus. How much is the processing fee to open it?
on 2017-03-01 Making a small payment each month and paying it off is the best way to build credit, and it does report to all three bureaus. How much is the processing fee to open it?
Comment 3 by breakinger
Re: Half Of The Credit Limit on 2017-03-07
I've always wondered what percentage is best to stay at with a credit line and now thanks to wanderer, I know. I also had a Capital One card that had a very small limit on it. Needless to say, I didn't keep it for very long because they always seemed to refuse to increase my limit. I've moved on to bigger and better cards over the years. I hope this card works out for you.
on 2017-03-07 I've always wondered what percentage is best to stay at with a credit line and now thanks to wanderer, I know. I also had a Capital One card that had a very small limit on it. Needless to say, I didn't keep it for very long because they always seemed to refuse to increase my limit. I've moved on to bigger and better cards over the years. I hope this card works out for you.
Comment 4 by boobie1998
Re: Hang In There!! on 2017-03-10
I have this card...it will grow...slowly. You may request an increase every 6 months, and they are free. You do it on their website. Usually takes 2-3 days. My limit is at $600 now. Its a slow grower, but its something at least. Had my account since 1-15-2015, I posted a review on it then...zero problems with it.
on 2017-03-10 I have this card...it will grow...slowly. You may request an increase every 6 months, and they are free. You do it on their website. Usually takes 2-3 days. My limit is at $600 now. Its a slow grower, but its something at least. Had my account since 1-15-2015, I posted a review on it then...zero problems with it.
Comment 5 by tishbel
Re: Half Of The Credit Limit on 2017-06-03
Paying a small amount onto it and clearing it each month sounds like a good way to grow your credit. $300 is enough to cover a regular bill so if used it to cover a bill and pay it off it sounds like a great way to grow credit.
on 2017-06-03 Paying a small amount onto it and clearing it each month sounds like a good way to grow your credit. $300 is enough to cover a regular bill so if used it to cover a bill and pay it off it sounds like a great way to grow credit.
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Disclaimer: This content is not provided by The Bank of Missouri. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by The Bank of Missouri. Review content is powered by Finance Globe.
