New to building credit seemed like appropriate section.
So I've had a Credit One CC for about 6 months now. The card has a $300 limit. I've never tried to raise it but I thought about it. I make $1,800 a month and I do well, I have savings but I've never really mess with credit before. I've always bought my vehicles out right in cash and stuff along that line.
Well I've been reading up over the last few months about credit utilization. I've paid ALL my monthly statments 100% in full each month. After 5 months I watched my credit score rise in their site (people say it's a fake credit score tho).
Anyways I've always charged anywhere from $80-$120 on the card to keep it in the 30ish percent usage. Well this month my PC monitor went out and after looking on my phone and phone a good monitor for a great price on Amazon. Decided to put it on the card figuring it was about 10 days before I get my monthly statement so it would post and I could pay it all off ($255 total).
Well today I check the site and the credit score they give me dropped from 670 down to 591. I looked at the info doesn't show any new accounts, cards, or late payments. I was always under the impression that it looked good to put large purchases on a card and pay them off in full.
I have a pre-paid credit card and I had the money for the monitor now I feel like an idiot, but I live 30 miles out in the country (one way).
I will be paying this off in full like I have on all my previous statements. Have I hurt my credit? I didn't figure 10 days would be long enough for the people who keep track of your credit usage to report it before it was paid off. At the same time I was also considering putting of the purchase until this coming statement posted and cleared.
I was always taught in financial classes in high school that it would good to put large purchases on CC's then immediately pay off in full the next statement.
I also feel I have ruined 5 months worth of good effort and I semi feel betrayed as I've always paid 100% mount never anything less. My credit score started at 647 now it's in the 590's...
Did I do serious damage or will it recover after my payment clears?
So I've had a Credit One CC for about 6 months now. The card has a $300 limit. I've never tried to raise it but I thought about it. I make $1,800 a month and I do well, I have savings but I've never really mess with credit before. I've always bought my vehicles out right in cash and stuff along that line.
Well I've been reading up over the last few months about credit utilization. I've paid ALL my monthly statments 100% in full each month. After 5 months I watched my credit score rise in their site (people say it's a fake credit score tho).
Anyways I've always charged anywhere from $80-$120 on the card to keep it in the 30ish percent usage. Well this month my PC monitor went out and after looking on my phone and phone a good monitor for a great price on Amazon. Decided to put it on the card figuring it was about 10 days before I get my monthly statement so it would post and I could pay it all off ($255 total).
Well today I check the site and the credit score they give me dropped from 670 down to 591. I looked at the info doesn't show any new accounts, cards, or late payments. I was always under the impression that it looked good to put large purchases on a card and pay them off in full.
I have a pre-paid credit card and I had the money for the monitor now I feel like an idiot, but I live 30 miles out in the country (one way).
I will be paying this off in full like I have on all my previous statements. Have I hurt my credit? I didn't figure 10 days would be long enough for the people who keep track of your credit usage to report it before it was paid off. At the same time I was also considering putting of the purchase until this coming statement posted and cleared.
I was always taught in financial classes in high school that it would good to put large purchases on CC's then immediately pay off in full the next statement.
I also feel I have ruined 5 months worth of good effort and I semi feel betrayed as I've always paid 100% mount never anything less. My credit score started at 647 now it's in the 590's...
Did I do serious damage or will it recover after my payment clears?