I just maxed out my first credit card, how bad will this effect my credit rating?

My limit was $750, and I spent about $735 in the past two months that I have not paid off. I thought I had money coming to me but it never got to me. I'll be able to pay off the card in about 2 weeks so that it's down to about $350, and all the way off in a month. My credit score now is around 681 according to the thing my credit card company sends me in the mail (some program that is said to help build credit. What will it be in about 2 months, once my bill is paid off?

I just maxed out my first credit card, how bad will this effect my credit rating?
You don't want to pay the card all the way off. Leave at least 30% on there to optimize your credit. One thing you can do is call the credit company and ask for an increase in your credit limit. Chances are that if you have a 650+ they will give you the increase. Going over the limit does hit your credit score quite a bit. I have seen plenty of credit reports with scores under 600 with 0 lates just because the balances are too high.
Reply:It will probably take a pretty good hit...





BUT just make at least the minimum payment on time. And once you pay it down, your score will go back up.





Maxing out your card has very little long term effects.... so once you are reported at below 60% again, your score will go back up.
Reply:call the company and ask for an increase in your credit line. then you will not look as high. they want to extend to you credit. call them every couple months and ask for a bump up. if you have been on time they will usually do it. you can also apply for another card with a low rate and balance transfer.
Reply:it should not go down to much if you make your payments on time! do not slip up or your score will not only lower but you will be charged more interest late fees etc.
Reply:Running the credit card to the max will hurt your score. You never ever want to reach more than 50% ever.


Find a credit card that will give you couple of thousand dollar worth of credit and transfer the a/c.

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