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I have never had any trouble making multiple payments with Barclay, Cap One, NFCU or Cabelas...Discover still too new to know for sure
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
It's not.
I do it constantly.
I have made 16 payments on my two Cap One accounts in the last 6 weeks.
I have never had an issue and received serious CLI on both accounts.
Granted, I charge between $4k-$8k per month, so that may matter.
Making payments before your statement cuts, keeps your utilization down.
I dont pay them off before statement cuts, just reduce balance significantly.
I often pay my store cards off before statement hits.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@BronzeTrader wrote:
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
I'm running an experiment with making multi payments in a month. The CL is $500 and the total spending is at $800. We made 2-3 payments already from the bank. The statement has not cut yet.
TU somehow found that and the FICO dropped by 38 points.
I figure all CCs can differ. Pay attention to your utilization rate.
I do not believe that TU has any idea what you do before your statement hits and I do not think it would hurt you if they did.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!