Another strategy is to ask for a higher credit limit. This can typically be done online and only takes a few seconds. Over a few years you can increase credit limits 5-10K. For more immediate relief get another card.
People need to stop worrying about the numerator in credit utilization. Use your cards responsibly and pay them off in full every month. The key to lower utilization is in the denominator, which is easy to increase by just asking for it. Do this every 6-12 months.
OP if I were you, I would ask for a credit increase to $3,000. Even if you don’t get the full amount you will still get an increase. This will cause your CC utilization to go from 50% with the plane ticket to like 15%.
joebenson17 t1_je95l7p wrote
Reply to comment by nkyguy1988 in Why are we encouraged to charge everything to a credit card but get penalized for high credit utilization? by New-Row7111
Another strategy is to ask for a higher credit limit. This can typically be done online and only takes a few seconds. Over a few years you can increase credit limits 5-10K. For more immediate relief get another card.
People need to stop worrying about the numerator in credit utilization. Use your cards responsibly and pay them off in full every month. The key to lower utilization is in the denominator, which is easy to increase by just asking for it. Do this every 6-12 months.
OP if I were you, I would ask for a credit increase to $3,000. Even if you don’t get the full amount you will still get an increase. This will cause your CC utilization to go from 50% with the plane ticket to like 15%.