Question:
i always pay on time, OVER the minimum and even BEFORE the due date but i went over too many times and they decreased my limit. Now does that affect my score BIG TIME??
Answers:
yes
Yes it will reduce your credit score. But the big problem is maxing out your credit cards. You should never have more than about 1/3 of your available credit used. So work hard at getting your balances down.
yes. its also not good to max out your cards.
Repeatedly exceeding your credit card max will hurt your credit score, dear.
Yes it will.
Anytime your credit limit goes down it increases your debt to credit ratio and this lowers you score.
You should always keep your balances below 30% of your credit limit.
If the balance on your cards exceeds 20% of your monthly income. Yes it will be 2 points per month, 10 per late month. The tables for credit reporting for the three major bureaus are available online at the True Credit answers page.
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