I can't even get through the entire thread without making some comments to this.
1. You made a payment and then spent the money, this is actually considered fraud; you bascially wrote a bad check. You even admit you did this later on in the post. (Not being judgemental here, just pointing out the facts.) This let's them put a hold on future payments, which I think by law might actually be ten business days, however unrealistic this is in regards to our electronic world. In fact, they are allowed by law to put holds on payments for up to five business days in any situation, regardless if they do it regularly or not.
2. You waited until the statement closing date to pay again, if I understood correctly, which you did not have to do. You can make payments in the interim. You can do so from either their website or your own banks online system. (You might even get a late payment fee for this and/or a returned check fee for the first payment being rejected.) Just because there was the hold the first time, doesn't mean you can't make other payments even if it was to correct the error you made by spending the money. (They may also charge you interest, since it wasn't PIF by the due date.)
3. You are using way too much of this cards limit if you are planning on PIF every month. There are no benefits associated with their Platinum card, so using the full balance is pointless in the way you are using it if you are doing so to build credit. PIF each month before the balance posts actually keeps your score low. I always suggest that if you want other creditors to notice how you use your credit let it report once at the full amount, then PIF after the statement closes. This causes a high limit, as it is termed, to be reported. Then only pay the full outstanding balance every month and anything additional to get it to 10% of usage by the closing date, but before the due date, or make multiple payments while still leaving 10% reporting. Creditors like to see you using your card, PIF before the due date to show 0% usage won't help them see you using the card.
I have paid my CapOne card up to 7 times in one month, not to get a higher score, but to get them to give me a higher limit. (This was before when they never gave Credit Steps cards limit increases beyond the 1 step. If I had known then what I know now.....) They have put holds on my account in the past, not that it mattered to me, and I did make them remove the holds after the payment had cleared my bank, not because I needed to use the card, but to make them work harder because of their past policies! I don't think I now ever get holds on my payments and I pay only from their site, I don't know because I don't care so much anymore what they do.... I also have a limit and many cards which is enough that I don't have to worry anymore.
If you are trying to build up your history for other creditors and thus build your score; then you need to show usage. Get a plan and stick with it for building your score. If you are having difficulty with just this one card, then you might want to hold off getting more until you can make certain that you don't spend the money you need for paying your card. You need to have a plan and a goal. If you goal is to get a mortgage, then you need to make sure that keep on top of things. I am certain if you put your mind to it you can succeed, you just need to keep to the details. Good luck and do well.
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
