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How will this look to CIti...

Established Contributor

How will this look to CIti...

I have a secured card with a 200.00 limit...since my limit is so low, if I use the card weekly and pay like $200.00 a wk and obviously don't carry a balance how does it look to them...making so many payments...does it send off alarms somewhere?

 

What are your thoughts?

 

Thank you 

Message 1 of 5
4 REPLIES
Super Contributor

Re: How will this look to CIti...


Andy77 wrote:

I have a secured card with a 200.00 limit...since my limit is so low, if I use the card weekly and pay like $200.00 a wk and obviously don't carry a balance how does it look to them...making so many payments...does it send off alarms somewhere?

 

What are your thoughts?

 

Thank you 


Making a payment in full once per month and using it regularly is sufficient enough.   

Message 2 of 5
Established Contributor

Re: How will this look to CIti...

I realize making one payment per month and on time and such is sufficient, however, the reason why I would make four is for this main reason:

 

show them the 200.00 credit line is manageable and rather low with the hope that in 18 months they will graduate the card and give me a higher limit

 

In addition, when I got the card, I overlooked I was putting money into a cd which is locked and therefore, I could not contribute to it, hence why my CL is just 200 dollars 

Message 3 of 5
Moderator Emerita

Re: How will this look to CIti...

I think there's every reason in the world to make multiple payments when you have a CL of $200! Back when gas prices were so high a year or so ago, I spent $200/ month on gas alone.

I had a 0% BT on BofA, and I paid waaay over the minimum every two weeks, aka payday. I think the only thing that bothered them was when they realized that I would pay it off before the 0% expired, and so they wouldn't get any interest money. Smiley Wink

OP, I don't see why this would bother them. I would stop charging at $150-160, though. I'd hate to see some weird quirk put you OTL, and that could easily happen if you ran it up to $190 or something.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
Frequent Contributor

Re: How will this look to CIti...


Andy77 wrote:

I have a secured card with a 200.00 limit...since my limit is so low, if I use the card weekly and pay like $200.00 a wk and obviously don't carry a balance how does it look to them...making so many payments...does it send off alarms somewhere?

 

What are your thoughts?

 

Thank you 


You could also take the extra money and get another secured card for an additional TL. There are several that will allow you to add to the Savings Account and raise your CL.
Message 5 of 5