07-26-2012 11:20 AM
I fail to see a reason why someone would need to make a payment within 3 days, I have also heard of some people almost literally using a credit card like a debit card. They make a charge, then immediately go pay that single charge off. To me that is too excessive and unnessecary.
Really it is a waste of time and effort to be constantly paying a card every few days. Since my credit limits are high enough to where my monthly charges keep me at a decent util % I just let the balance report and pay the statement in full.
Only reason I can think of to make multiple monthly payments and I have done this before with my capital one 500 CL card is when the amount you charge per month is greater than your credit limit and you need to make a payment to keep from going over your limit or reporting an extremely high util, but if you have sufficient credit limits there is no need to make an excessive amount of payments and I have heard in some cases that triggers some sort of account review.
07-26-2012 01:29 PM
05-26-2013 11:26 AM
Received my Chase Sapphire Preferred card a while back, and have been running up charges, well on my way to getting the "spend $3k in 3 months" reward or 40,000 points. And as I've charged, I've also been paying. Usually like to pay shortly after I charge something, so I can be done with it. Imagine my surprise then, when I went to make a payment and received a message from Chase that, I'd made a recent payment and had to choose a date that was 3 days beyond the most recent payment date. Why would they have a policy like that? If I want to make a payment daily, or whenever, why should they place a restriction on payments? I know, the obvious is to make money, but it just seems to be lousy customer service, and the only one of my many accounts that has this restriction. I did do a customer satisfaction survey with Chase, and expressed my displeasure about this, but no response received.
I believe it is because it costs them money to withdraw money. Chase is not the only one who puts restriction on payment. Citi limits you to 4 payments per month.
Wow I didn't know this. Gotta be more cautious with Citi in the future ...
05-26-2013 11:44 AM
why not push it from the bank account with bill pay? Discover also does not allow you to pay for pending transactions and I had no interest to have that card report 100% util and maxed out so I pushed it from the bankside and even overpaid so I could keep using it and still have a 0 balance. At reporting it was a -400 $ saldo that reported 0 balance.
05-26-2013 01:00 PM
05-26-2013 03:33 PM
You can still bypass this by calling in and making the payment over the phone.
if the funding source is a Chase checking / savings account, the available credit is freed up by 12am if payment was made before 5pm EST, and payment will still be reflected as made on the same day.
Or you could just walk into a branch.
05-26-2013 04:15 PM
I also PIF quickly after charging with my Freedom. Never has this issue tho
05-26-2013 05:16 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO