Anyone Else PIF Weekly?

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slipper
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Re: Anyone Else PIF Weekly?

Postby slipper » Fri Sep 11, 2015 3:10 am

I pay much more frequently than once a month. IMO you should always treat your credit cards like cash and you should only carry a balance if you have an emergency purchase or need to buy something for work (something that makes money for you). With that said, i always PIF day(s) after making a significant purchase or a significant amount of small purchases.


oldsoldier
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Re: Anyone Else PIF Weekly?

Postby oldsoldier » Fri Sep 11, 2015 2:45 pm

I am probably to obsessed with paying bills now. I tend to pay everything as soon as it post on my card. I check my credit card apps once a day even if nothing has been charged. My credit is where I want it so now I don't want to be late or miss a payment again if possible. I wish I could just pay once a month but I would feel like I was missing a payment somewhere.
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CarefulBuilder14
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Re: Anyone Else PIF Weekly?

Postby CarefulBuilder14 » Fri Sep 11, 2015 4:51 pm

oldsoldier wrote:I am probably to obsessed with paying bills now. I tend to pay everything as soon as it post on my card. I check my credit card apps once a day even if nothing has been charged. My credit is where I want it so now I don't want to be late or miss a payment again if possible. I wish I could just pay once a month but I would feel like I was missing a payment somewhere.

There is a middle ground between checking and paying every day and checking and paying once a month.

Maybe you can use a phone/email calendar to remind you to make payments once a week or even every 5 days, to start with?
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Vattené
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Re: Anyone Else PIF Weekly?

Postby Vattené » Wed Sep 16, 2015 2:40 pm

I used to pay about once a week when I was first starting to use credit cards. I wanted to be absolutely sure charge spending never got out of hand. Now that I have been using credit cards very heavily for a couple of years, I usually just pay once a month. I do check all of my accounts constantly, though, and I keep track of every transaction so at any given time I know to the penny what is outstanding on all of my cards.
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Re: Anyone Else PIF Weekly?

Postby Casher » Fri Oct 09, 2015 3:38 pm

I use my cards heavily and typically pay every week. This typically prevents the balances from showing on the CBR and the score seems a few points higher since I started doing this (from 798 to 811).

Kevin86475391
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Re: Anyone Else PIF Weekly?

Postby Kevin86475391 » Fri Oct 09, 2015 11:09 pm

slipper wrote:I pay much more frequently than once a month. IMO you should always treat your credit cards like cash and you should only carry a balance if you have an emergency purchase or need to buy something for work (something that makes money for you). With that said, i always PIF day(s) after making a significant purchase or a significant amount of small purchases.

Yeah, that's exactly how I see it too.

Casher wrote:I use my cards heavily and typically pay every week. This typically prevents the balances from showing on the CBR and the score seems a few points higher since I started doing this (from 798 to 811).


I can definitely see how that would be beneficial. Personally I don't really worry that much about reporting utilization since it's pretty low anyway front the weekly PIFs, and I don't need to apply for any credit. I suppose if I were planning on applying for something I'd make it a point to do the all $0 balances and one at 1% thing.

JonE
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Re: Anyone Else PIF Weekly?

Postby JonE » Sat Oct 10, 2015 3:51 pm

I'm still in the No Interest period for Chase, but that won't be for too much longer, so I'm focused on PIF while still using it.
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CarefulBuilder14
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Re: Anyone Else PIF Weekly?

Postby CarefulBuilder14 » Sat Oct 10, 2015 7:44 pm

Casher wrote:I use my cards heavily and typically pay every week. This typically prevents the balances from showing on the CBR and the score seems a few points higher since I started doing this (from 798 to 811).

At 798 you probably don't need to worry about utilization!

Why pay every week? Assuming your spending isn't excessive for your reported income, I'd expect banks would give you a very high CL with your credit. Maybe you spend a lot on a business card or have other reimbursable expenses?

I assume you're talking about a regular (non-specialized) FICO score which only goes up to 850.
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