Lv 7
dizwar asked in Business & FinanceCredit · 4 weeks ago

If your credit line is 500.00, and you spend exactly 498.00, are you considered maxed out?

(especially if you've been paying off the balance each month in-full and on-time, and you're currently not behind in your payments)

5 Answers

  • 4 weeks ago
    Favorite Answer

    yes,,, but if your history* of payment show as you describe you can call the bank to extend the credit line... most people fail to pay the balance off at months end thus max out means they have not managed their spending correctly 

    but if you mean your not behind in payments now but have been in the past ,,,,, you will not justify a increase 

    it takes  3 years or more to show you are not going to go back to old bad payment  habits 

  • 4 weeks ago

    yes and it will affect your credit score. you should always keep your credit usage at 30%. 

  • 4 weeks ago

    No, you have $2 pf available credit.

  • Anonymous
    4 weeks ago

    For practical purposes yes. But hypothetically you could spend 2 more cents. You may be able to go over....with a fee.

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  • Anonymous
    4 weeks ago

    Yes.   And utilizing your entire credit limit will lower your credit score.

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