I recently just used a Kohls card, and reached the maximum of $300 on the card, with every intention to pay it off in 2 payments. I also have a car loan for over 10k, and student loans which I make regular above minimum payments on. I maxed out the Kohls card to work on building my credit back up without trying to activate any credit cards. Why on earth did $300 diminish my credit so dramatically, and even if I paid the card off in 1 payment, how long will it take me to recover from a 57pt hit! I did this to help myself in the long run, now I wish I would have just paid in cash!
