Credit score question...?

Answers:1   |   LastUpdateAt:2012-10-03 08:02:02  

Asked at 2012-09-07 02:11:03
I was very close to my credit limit on both of my credit cards this month due to an unexpected situation . You will have to take my statement this month , but will be significantly off next month when I can throw some money at it. MedlinePlus MedlinePlus I understand that maxing out credit cards negatively affect your FICO score , but two separate instances how much it cost? And after taking the next month , how long it takes to recover to where it was before? It sucks , because my credit is otherwise impressive considering that I'm young and do not have a mortgage (which is 750) . It consists of a mixture of a car loan , two credit cards , retail payment several full lines of credit from different points in time , and some student loans . My payment history has also been perfect in the 7 + years I've had these cards . MedlinePlus MedlinePlus They keep them low for a month or two , it takes longer to appear or a few years ? I've looked online , but all I can find is generally the way to improve your score tips and credit counseling services . I'm more interested in the details . Thank you !
Answer1OrquidiaAnswered at 2012-10-03 08:00:12
Will recover when , after reduction at the same level as before the credit card company next reports its new ( reduced ) balance to the credit bureaus . Your credit score is based on the balance of its "current" ( as the most recent ) and its history to do ( or not do) the required payments ( in time and in the right amounts ) . It is based on the story of their balances .
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