CSP pay before payment cuts?

Creditseeker93 · ‎03-13-2013

Okay so I have a question. I have a CSP and when I was approved Chase gave me 5K limit for the CSP to start. I knew this wouldn't be enough due to current travel plans, so I called chase consolidation department and had them move $5K from my (JOINT) Chase Freedom account (had a 13K limit), to my CSP and that gave me $10K on the CSP.

I already charged about $7,000 on the card and wasn't sure if I should pay it off before the statement cuts (so it doesn't get reported on my CR)or to just pay it off when my statement comes in the mail. I'm going to be paying in full as I've done with all my credit cards in the past (and plan to do for the foreseeable future).

What do you think Chase would mind if I pay before statement cuts? And which payment plan would help me most likely get a Auto CLI ?

***AMEX PLATINUM NPSL *******AMEX BCP 23,100***** CITI DOUBLE CASHBACK $5,900 *****Chase Sapphire Preferred $10,000 **** Chase Freedom $8,000 *****Sears Mastercard Platinum $5,000 **** Macy's Star Rewards $1,000 ***** American Express BCE $24,900 (AU) **** *****Discover IT $8,500 (AU)*****

Creditseeker93 · ‎03-14-2013

BUMP

***AMEX PLATINUM NPSL *******AMEX BCP 23,100***** CITI DOUBLE CASHBACK $5,900 *****Chase Sapphire Preferred $10,000 **** Chase Freedom $8,000 *****Sears Mastercard Platinum $5,000 **** Macy's Star Rewards $1,000 ***** American Express BCE $24,900 (AU) **** *****Discover IT $8,500 (AU)*****

withaspark · ‎03-14-2013

Don't know about what Chase internal models favor, but yes, I'd pay it off before allowing a huge balance to report on a brand new card for fear other creditors would think I was actually seeking more credit because I needed it and would take AA. Even when I PIF before statement cuts, my high balance has been reported even though I've never had that high of a balance at any statement cut. So it shows use, without showing a high outstanding balance on a new CL.

I can't imagine why Chase would mind...they want their money...the sooner you do so, the less risk they experience (one could lose a job, get injured, or just change their mind and not pay). I'd just pay it off instead of worrying about the debt; though, that may be because 7k in debt is a substantial balance to me that would be difficult to repay in 23 days if I lost my job or got sick without taking money out of savings/retirement. Your position may be different. I just don't think 7k outstanding on a brand new credit line speaks well of discipline and financial responsibility...though in this case you obviously aren't in any trouble, so why risk the potential costs of the incorrect assumptions?