Pay credit card multiple times per month? Is that bad?

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mdh0910
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Pay credit card multiple times per month? Is that bad?

Postby mdh0910 » Fri Aug 16, 2013 9:33 pm

First post...

I didn't manage my credit well as a college student and had a few charge-offs. I haven't used credit since then (around 10 years ago) until recently when I applied for and was approved for a $1000 credit limit on a Chase Freedom (checking and savings accounts with Chase).

Obviously I want a higher credit limit someday, plus at least one other card---possibly two. To that end, and with being a responsible adult (finally) who can and will pay the bills, I think I've gotten a little obsessive with the Freedom. I've run around $1200-$1500 through the card so far and I've paid the posted balance 4 times. It's been open for around 2-3 weeks; haven't received a statement yet.

So the question is, does it "look bad" to pay on the card that often---basically paying charges as soon as they post? Will they wonder why I need credit if I'm basically using the thing like a debit card? Will this hurt me in my future goals (CLI on Freedom and 1-2 future cards, 6 months to a year down the road)?

Thanks in advance!


MemberSince99
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Postby MemberSince99 » Sun Aug 18, 2013 6:57 am

It does not in any way look bad. Keep doing exactly what you are doing. Why? Because Chase will notice you paying in full which they like and also see you are using way more than your limit and you MAY get lucky and get an auto limit increase that way. If not, after 6 months hit them up and say hey with this limit I'm having to pay multiple times per month, it would make it easier on me if you gave me a higher limit and encourage me to continue using the Freedom as my primary card. See if you can get them to give you an increase with a soft pull (possible but not likely but you have nothing to lose by asking).

Keep up the good work and keep on with what you are doing.

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Terry
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Postby Terry » Sun Aug 18, 2013 9:57 am

mdh0910 wrote:First post...

I didn't manage my credit well as a college student and had a few charge-offs. I haven't used credit since then (around 10 years ago) until recently when I applied for and was approved for a $1000 credit limit on a Chase Freedom (checking and savings accounts with Chase).

Obviously I want a higher credit limit someday, plus at least one other card---possibly two. To that end, and with being a responsible adult (finally) who can and will pay the bills, I think I've gotten a little obsessive with the Freedom. I've run around $1200-$1500 through the card so far and I've paid the posted balance 4 times. It's been open for around 2-3 weeks; haven't received a statement yet.

So the question is, does it "look bad" to pay on the card that often---basically paying charges as soon as they post? Will they wonder why I need credit if I'm basically using the thing like a debit card? Will this hurt me in my future goals (CLI on Freedom and 1-2 future cards, 6 months to a year down the road)?

Thanks in advance!



Great job! That is the method I used with my Chase Freedom and my starting CL was $4000.00. For two consecutive six month requests, I finally graduated to a $13,000.00 CL. The CSR both times stated it was because of my usage and payment history that makes an increase of that size possible. Keep in mind, anytime you call Chase for an increase request, they will HP. Be sure not to apply for too many cards before your request, otherwise you will appear credit hungry and therefore destroy your chance of a CLI.
AMEX Green Card - NPSL [Member Since 1995] ;)
AMEX Everyday Card ($25,000) 6/14 Backdated to 1995 - For 20% Extra Points Benefit
Chase Freedom Visa Signature ($17,000) - For 5% rotating categories
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Discover IT Humane Society Design ($16,500) - For 5% rotating categories
Firestone ($2,600) - For 0% financing
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JCPenney Credit Card ($7,000) - For special discounts
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Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 767 EX, 778 EQ, 790 TU [02/2015]

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nismoZtuner
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Postby nismoZtuner » Sun Aug 18, 2013 1:37 pm

Terry wrote: Be sure not to apply for too many cards before your request, otherwise you will appear credit hungry and therefore destroy your chance of a CLI.


I have to stop doing that, i applied for 4 credit card in less than 3 months.. no more cards for me BTW.. but hey i pay my balance in full or pay once the charges appear!
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

MemberSince99
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Postby MemberSince99 » Sun Aug 18, 2013 3:32 pm

That is why you will continue to have good credit.

mdh0910
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Postby mdh0910 » Tue Aug 20, 2013 7:05 pm

Thanks for the helpful replies.

Which is better to do first: ask for CLI on Freedom or apply for another card? (In 6-12 months, I mean.)



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