How much will my credit go up?

How much will my credit rating go down?

• Hello everyone! I just needed some information regarding my credit rating. Here's the situation: I recently had an Apple credit card in which I bought my MacBook and paid that off completely in 5 months or so (I paid well above the minimum payments each month.) I now only have a credit card that's about 75% to it's credit limit that I am working on paying off. I read online that paying the minimum payment on credit cards doesn't make your credit rating go down, but if you have around 35% or more of your credit limit on the card, it will. I have a part time job, so now that one card is completely paid off, I can start making bigger payments on the card that's 75% to it's limit. I guess my question is since it's limit is kind of high, will my credit rating go down even though I payed off another card very fast? How much does it go down; every month or every day, and by how many points about? Thanks for your help in advance!

• Answer:

  The credit bureaus rate you on you're on-time payments the most. As long as you are making the payments on-time your score will be fine. They do also grade you on percent of credit limit you use as statistics show those who use only around 20% of their credit limit are more likely to be able to pay back debts than those who use all their credit limit. This will only ding your score a couple points and is insignificant in your credit score.