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Chase - Making multiple payments per month

Regular Contributor

Chase - Making multiple payments per month

Does Chase frown on making multiple payments per month? I've had some large amounts get charged and would like to pay each off as they hit the account. Could amount to 3-4 payments in one billing period.

Message 1 of 23
22 REPLIES
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Valued Contributor

Re: Chase - Making multiple payments per month

I've done three before without issue.  I'm pretty sure Chase is OK with it since you're paying them.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 2 of 23
Frequent Contributor

Re: Chase - Making multiple payments per month

This is something I think many over-think.

What does Chase want? You to pay your bill.

How does Chase want you to do it? With cash.

When does Chase want you to do it? By the due date.

If you feel more comfortable paying it off throughout the month, do so. Otherwise, I don't think it's worth anything.

This differentiates from paying prior to your statement cutting, which will show up on your utilization on your credit report; however, your credit report will never show how many times or how little times you pay it a month.

As long as you're not carrying a balance or doing other things against the T&C, Chase just wants you to return what it gave for you!
Message 3 of 23
Mega Contributor

Re: Chase - Making multiple payments per month

IMHO it could get you a CLI in the future using and paying down your account. Your making them money they like that.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
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Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 4 of 23
New Contributor

Re: Chase - Making multiple payments per month


thebostonredsox wrote:

Does Chase frown on making multiple payments per month? I've had some large amounts get charged and would like to pay each off as they hit the account. Could amount to 3-4 payments in one billing period.


I've paid twice in a month with no issues. I don't think they care how many times you pay them; i'm sure they'll gladly accept your payments!

01/11/13:
EQ Fico: 716 (from myfico)
TU Fico: 719 (from Walmart)
EX Fico: 719 (from myfico)

Chase Sapphire Pref. II AMEX Platinum II Amex PRG II Amex SPG II Citi AAdvantage II Barclays US Airways II Chase Freedom
Message 5 of 23
Established Contributor

Re: Chase - Making multiple payments per month

The one thing it could possibly help is avoiding a "highest balance" of near your CL.  I forget which report or which account, but one of my revolvers showed that my highest balance was like 80% of my CL, like $1700 or so.  I charged a $1500 piece of furniture and paid if off within days of the transaction posting. This balance never reported as that month's balance, it was charged and paid for during one billing cycle.  I was surprised to see this was even reported in one of the CR account fields somewhere. I don't know who has visibility to that field or if any manual review would take that into account, but that value has forever since been visible on the account as a highest balance of ~$1700.  I care less now that the limit has been bumped to $7500 though.

Message 6 of 23
Established Contributor

Re: Chase - Making multiple payments per month

Same...I've frequently made mutlipe payments and different CCCs and never had an issue.  In fact, I'm pretty sure they welcome them.

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Message 7 of 23
Frequent Contributor

Re: Chase - Making multiple payments per month


coldnmn wrote:

IMHO it could get you a CLI in the future using and paying down your account. Your making them money they like that.


I think this is where YMMV. I pay my credit cards down every week (just crazy habit!), but my BF lets everything post. He's received two CLI's within four years on the Freedom and one CLI within four months on the CSP. I've received none. As much as I wish there was a legit practice they use that we could abide by, I don't really think there is. Smiley Sad

 

If anything, if you were personally requesting a CLI, I could see you using the fact that you almost max it out each month as the same token that you must pay it down multipe times a month to make the point that you do not have enough credit.

Message 8 of 23
Regular Contributor

Re: Chase - Making multiple payments per month

Thank you everyone for your quick input! I will go ahead and start making multiple payments this month.

Message 9 of 23
Senior Contributor

Re: Chase - Making multiple payments per month


thebostonredsox wrote:

Does Chase frown on making multiple payments per month?


In general, creditors don't complain about getting paid.  Chase does limit the number of payments you can make but I don't recall the limit off the top of my head.

 


jenn_bar wrote:

>As much as I wish there was a legit practice they use that we could abide by, I don't really think there is.


Not understanding or knowing the criteria doesn't make it illegitimate.  It's never a matter of just one factor either.  Credit varies from person to person.  Underwriting criteria vary from creditor to creditor.  One can't assume that everyone will get the same CLI's based solely on payment pattern.

Message 10 of 23