Paying more than minimum bad? Denial letter....

[Anonymous]

Are you making lots of monthly payments on some of the cards? The denial may be for that because the banks are concerned you can't live within the credit limits they provided. If this is the case, you might have better luck by limiting what you charge considerably so you only have 1 payment a month. It can be annoying, but it might help your credit improve faster so you can get bigger limits.

[Anonymous]

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@Anonymous wrote:

Now, I tried increasing the limit on the one CC and the denial letter was nothing more than 'Accounts with payments greater than minimum balance too frequent/high in the past 6 months' and 'Accounts with payments greater than minimum balance too frequent/high in the past 12 months' (wording similar to that) and it threw me for a loop because if the wording means what it reads like... it's actually not a good thing (when rebuilding credit at least) to pay more than the minimums every month?

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My first thought when I read this is that you are making payments for more than the balance - not more than the minimum payment due, but more than the actual balance - for example, if your total balance is $100 and you pay $120 instead. Have you been including "pending" charges in your payment amount?

[delaney1]

If you do a Credit Check  Total, make sure to call in to cancel at the end of the trial. The automated system will give you a monthly price of 14.95 instead of the $30 it normally is.

[SunriseEarth]

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@Anonymous wrote:

Hey guys, so I recently starting bouncing back from CA's and sub-550 scores with wiping off a ton of old CA's due to them not verifying/debt was SOL. I've already "screwed up" by applying for, and getting, about 6 different cards:

Kohls $300, just upped to $700 this month

OldNavy $300, upped to $500 (store version, not VISA one)

Amazon $1000 (store version)

Credit One $300

Capital One Platinum $300

Capital One Quicksilver $500

Now, I tried increasing the limit on the one CC and the denial letter was nothing more than 'Accounts with payments greater than minimum balance too frequent/high in the past 6 months' and 'Accounts with payments greater than minimum balance too frequent/high in the past 12 months' (wording similar to that) and it threw me for a loop because if the wording means what it reads like... it's actually not a good thing (when rebuilding credit at least) to pay more than the minimums every month?

Side-note/questions, and it certainly might be the Quicksilver card "causing this", but it has 1.5% cashback, so I try to use that EVERYWHERE and then just re-pay the amount I just charged as soon as it posts, purely for the cash-back. Is that "bad" and/or will CC companies try to close accounts that "game" the system like that?

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Are you letting any of your CCs post with zero balances?   I'm wondering if that's actually the issue.   In other words, if you have 6 cards, at least 3 of them should have a zero balance post.  

[Closingracer99]

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@Anonymous wrote:

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@Anonymous wrote:

Hey guys, so I recently starting bouncing back from CA's and sub-550 scores with wiping off a ton of old CA's due to them not verifying/debt was SOL. I've already "screwed up" by applying for, and getting, about 6 different cards:

Kohls $300, just upped to $700 this month

OldNavy $300, upped to $500 (store version, not VISA one)

Amazon $1000 (store version)

Credit One $300

Capital One Platinum $300

Capital One Quicksilver $500

Now, I tried increasing the limit on the one CC and the denial letter was nothing more than 'Accounts with payments greater than minimum balance too frequent/high in the past 6 months' and 'Accounts with payments greater than minimum balance too frequent/high in the past 12 months' (wording similar to that) and it threw me for a loop because if the wording means what it reads like... it's actually not a good thing (when rebuilding credit at least) to pay more than the minimums every month?

Side-note/questions, and it certainly might be the Quicksilver card "causing this", but it has 1.5% cashback, so I try to use that EVERYWHERE and then just re-pay the amount I just charged as soon as it posts, purely for the cash-back. Is that "bad" and/or will CC companies try to close accounts that "game" the system like that?

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1) No the CC doesn't give a crap about you 'gaming' the system w/ the 1.5% cash back

a) Let's be honest it's $1.50 per $100

b) They get their exchange fee from the merchant, that's why they 'game' the public into using it 'EVERYWHERE'...in hopes of them getting 'free' money off transactions that would normally NEVER have made a dime on b/c the public hadn't been 'trained' to chase 'cash-back' thus making them money on transactions that truly are NOT 'really' credit based transactions.

Think about what RISK do I take as a CC company if you run your card, then immediately pay me....all you did FOR ME is get the poor schmuck merchant to spend me  portions of sales I really shouldn't be involved with b/c I'm really not 'lending' any money there really isn't any 'risk' being abated...I'm using the public to 'pimp' money from your cash register...

So 'no' don't stop....bubble gum, toilet paper, pens. paper, candy ...why should they give a crap it's FREE money with almost ZERO risk...that's the PLAN,Stan!

2) Another 'secret' many times that automated letter with 'reasons' for denial is just a bunch of gibberish to CYA with regard to

a) Meeting the MINIMUM requirement of the law (in a way, so vague it can't be determined that they discriminate against YOU in particular)

b) To have 'proof' "something" was sent, so why not just check a BUNCH of boxes...that way, again the answer to WHY is pointing 6 different directions

and not debatable....it's the old 'go away...it's not you, it's me' please let's NOT have anything to discuss, go chase cars and try to figure it out on your own,...please just ask somebody ELSE out, move!

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Your getting a little paranoid I see ?  Unless you are paying the bank the same time you are swiping the card you are technically taking a loan out. 

[Closingracer99]

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@Anonymous wrote:
Try Credit Check Total. They give you all 3 credit reports and scores monthly, but update Experian everyday.

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I just use Credit Karma to be my monitoring and works fine. If you want to pay for one just the one here. They are the company who is doing the scoring models and from what I have seen the setup looks easy to use.