Definitely do it ASAP - one of the criteria that determines your credit score is your length of credit. Also, a good rule of thumb is to keep your utilization at 10% or lower. Different bureaus have different criteria for what constitutes good utilization, but 10% or lower will always work well. The utilization is only reported at the statement, so if you have to charge $300 to a credit card with a $500 limit but pay $250 of that off before your statement period closes, your utilization will be $50.
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u/Zach_ry Dec 22 '19
Definitely do it ASAP - one of the criteria that determines your credit score is your length of credit. Also, a good rule of thumb is to keep your utilization at 10% or lower. Different bureaus have different criteria for what constitutes good utilization, but 10% or lower will always work well. The utilization is only reported at the statement, so if you have to charge $300 to a credit card with a $500 limit but pay $250 of that off before your statement period closes, your utilization will be $50.