Can you make too many payments too a card?

Anonymous · ‎12-20-2017

Those are some serious outlier/exception examples, which IMO combined may constitute 1% of the total regarding this subject. From my experience with Discover, they'll do an off-cycle reporting any time you want. I accompished this with about a 45 second onine chat. I've had other lenders do this for me as well when I've asked. In fact, I can't ever remember being told "no" when I've asked for an off-cycle reporting. Naturally, if someone has low-limit cards and they tend to spend a lot, they're going to have to watch their balances. That sort of goes without saying. With heavy spends though on those low limits, the chances of them staying low for long are very slim, as auto-CLIs are very likely in such situations.

Watchmann · ‎12-20-2017

I read through this entire thread and it's amusing to see people so OCD about their credit, which is better than not caring about it. But your finances should not be the driver in your day-to-day life, they should not rule you. Paying off every charge you make immediately is non-productive, it doesn't do anything positive, may raise flags and frankly, who really has time to fiddle with daily payments which then have to be verified and reconciled with your checking account balance? What a drag. I check all my credit card accounts daily just to make sure nothing funny is going on but have no desire to immediately pay off the charge. What's the purpose? I have all my accounts on auto pay and have never had an issue with one missed. Let your credit work for you, but don't let it make you a slave, there are more important things in life. .

Gmood1 · ‎12-20-2017

@Watchmann wrote:
I read through this entire thread and it's amusing to see people so OCD about their credit, which is better than not caring about it. But your finances should not be the driver in your day-to-day life, they should not rule you. Paying off every charge you make immediately is non-productive, it doesn't do anything positive, may raise flags and frankly, who really has time to fiddle with daily payments which then have to be verified and reconciled with your checking account balance? What a drag. I check all my credit card accounts daily just to make sure nothing funny is going on but have no desire to immediately pay off the charge. What's the purpose? I have all my accounts on auto pay and have never had an issue with one missed. Let your credit work for you, but don't let it make you a slave, there are more important things in life. .

I'll give you a +1000 for that.lol

arkane · ‎12-20-2017

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
i think a problem might arise if you're cycling your credit limit.
How do you define "cycling" in your above post?
if your total payments are more than your CL.

some lenders might give you CLI but a few lender might frown upon it especially if the bulk of the spend is to earn bonus categories, points, miles and the likes. rare but it happens so just putting it out there.

If a lender took AA against me because of that, I'd probably tell them to just cancel my card on the spot.

Look, we already have capped bonus categories, and MS has been nerfed to the point it's not practical or worth the time anymore. If you're going to advertise X% cash back up to Y cap, you darn well better be prepared for people who are going to max out that cap every quarter.

@Watchmann wrote:
I read through this entire thread and it's amusing to see people so OCD about their credit, which is better than not caring about it. But your finances should not be the driver in your day-to-day life, they should not rule you. Paying off every charge you make immediately is non-productive, it doesn't do anything positive, may raise flags and frankly, who really has time to fiddle with daily payments which then have to be verified and reconciled with your checking account balance? What a drag. I check all my credit card accounts daily just to make sure nothing funny is going on but have no desire to immediately pay off the charge. What's the purpose? I have all my accounts on auto pay and have never had an issue with one missed. Let your credit work for you, but don't let it make you a slave, there are more important things in life. .

You realize it literally is just a few extra mouse clicks and keyboard strokes to pay the card right? I mean if you're already checking your credit accounts daily, then might as well.

Also while I understand where you're coming from, for better or for worse, finance is a fact of life, and our lives revolve around it. What's OCD to one may simply an established routine for another, different strokes for different folks and all that.

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6/8/20:

Noctilum · ‎12-21-2017

I made 3 payments to Amex in the last week and haven't seen any issues yet. I think Chase limited me to 1 payment a week at one time but don't know if that's the case any more.

SouthJamaica · ‎12-22-2017

@Joecooltech wrote:
So I asked the question the other day if you can run too much through a credit card.? And the consensus seems to be as long as it’s within my income I was fine. The next question I have that would be secondary to that is is there an algorithm For too many payments. I have this incessant habit of paying things off soon as they post where I might let them sit for a day or two but not much longer than that. Example would be since opening a new card in September and have a made every day it is there a negative to this ?

I do it all the time and have yet to have a bank protest in any way.