Hello… I’m planning to open my first credit card soon. My goals are to build my credit score a bit and to help with some short-term financial needs over the next month or so. I was thinking of starting with a card with a $400 limit.
Here’s my question: If I use most of that $400 but pay off the balance well before the due date, will that negatively impact my credit score? I’ve heard that using a large portion of your credit limit can lower your score, but my plan is to pay off the balance before the payment due date to avoid any interest or penalties.
I’m new to this whole credit card thing and didn’t get much guidance growing up, so sorry if this is a basic question! Any advice or insights would be really helpful.
Thanks in advance…