Hello everybody,
I was planning on posting this in a credit card forum but I figured you guys know your stuff since most of you own nice cars
My concern is establishing credit. I'm 19 and I have two credit cards. $500 limit and $1000. I use them only to shop for my parents business twice a week so I end up maxing them both out weekly but pay them off immediately to repeat the following week.
I've heard that usin only 25% of the credit available is a good idea. But I end up being around 400% monthly
. Is that hurting my score or is it okay since the balance in the end is 0?
I would also like to increase the limits for simpicity and the reason mentioned above. Is this advised by you on the board? I've only had the cards for about 4 months so I still have about 2 before I can apply for a higher limit. Or will they automatically increase it?
Thanks!