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Hey I've been buying computer parts to make my own computer. I recently got approved for a credit card, my first ever, and I am going to take advantage of me having the money in cash, but charging it to my credit card to improve my credit score.
I have this situation:
My Credit limit is $800. I have two parts left to buy coming in at about $1,100. I was wondering if I could buy one of the parts with the credit card, which will be around $550. My available credit after this purchase is going to be at $350. Immediately after or a day later, I'll make a payment of about $400.
Will this free up my available credit from $350 to $650 as soon as I make my payment? Or will I have to wait until the next month when I get the statement online?
Thanks in advance!
Additional Details ---
EDIT:
Thanks StephenWeinstein, I was hoping it would be almost immediately, oh well, thanks for answering my question!
Also thanks Stan, you answered the other question I asked, so I'll buy the item tomorrow, and immediately pay enough to buy the other item, and I'll do it early in the morning!
Thanks bdancer222 for the advice. I've heard different things. Such as paying it all at once is good, but dividing a $500 statement into $200, or $150, into various months, is better. Not really sure though, I'll look it up! Thanks for the input.
I have this situation:
My Credit limit is $800. I have two parts left to buy coming in at about $1,100. I was wondering if I could buy one of the parts with the credit card, which will be around $550. My available credit after this purchase is going to be at $350. Immediately after or a day later, I'll make a payment of about $400.
Will this free up my available credit from $350 to $650 as soon as I make my payment? Or will I have to wait until the next month when I get the statement online?
Thanks in advance!
EDIT:
Thanks StephenWeinstein, I was hoping it would be almost immediately, oh well, thanks for answering my question!
Also thanks Stan, you answered the other question I asked, so I'll buy the item tomorrow, and immediately pay enough to buy the other item, and I'll do it early in the morning!
Thanks bdancer222 for the advice. I've heard different things. Such as paying it all at once is good, but dividing a $500 statement into $200, or $150, into various months, is better. Not really sure though, I'll look it up! Thanks for the input.
Available credit after purchase?
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