Utilization & Credit?

DWQA QuestionsUtilization & Credit?
rinirunonku asked 4 years ago

So I am new and just got my first CC and wondering how does that work?

 

I just got my first CC with 500 limit. Can I buy something for like 150 and pay it off like the next day, and then would my limit be reduced by that 150 untill the cycle ends, or would it would go back to 500 right after I pay it? And lets say I get something again for 100, and then wait for the bill to come in, and pay that off by the due date, would it show as combined of $ 150-30% and 100-20% = 50% utliziation or would only the 20% that is due show for that cycle?

 

 

Thanks,

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