Question about payment frequency

[Anonymous]

Long time lurker, first time poster, apologies if this is the wrong board. 

I'm working on rebuilding my credit, I've had a Capital One Platinum Card with a small limit (750) for a few years, just found out I was approved for a Discover IT card with a significantly higher balance, and I picked up an Amazon Store Card a few months back. I want to make sure to not carry a balance from month to month, and the easiest way for me to do that is pay bills and such with the Discover Card and then pay it immediately. My underlying question is, is it bad to pay more than once in a given billing cycle? I'll still pay every month, but potentially 2 or 3 times a month. Would this have any negative effect when it comes to getting CLIs in the future?

[leoment]

From my experience, no. I've pushed as many as 4 (once a week) payments from my bank to a CC company without issue. Hasn't affected my ability to receive CLIs.

[Anonymous]

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@leoment wrote:
From my experience, no. I've pushed as many as 4 (once a week) payments from my bank to a CC company without issue. Hasn't affected my ability to receive CLIs.

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+1

making payments every Sunday afternoon. Always the card with the closest statement cut date first then leftover funds to the other accounts.

[Anonymous]

Payment frequency CAN have a big impact on your score. I usually make payments on all my credit cards every Friday for whatever I've purchased during the prior week to keep my utilization rate low. By making weekly payments what usually ended up getting reported was that I was using about 1% of my available credit. Last month I went on a week long business trip and I ended up letting my balances pile up for almost three weeks before I made payments. In the meantime my CBRs ended up updating with the higher balances which ended up lowering score A LOT! My reported utilization went from 1% to 4% and my score dropped by 17 points; the stated reason for the drop was the increased utilization!

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@Anonymous wrote:

Long time lurker, first time poster, apologies if this is the wrong board. 

I'm working on rebuilding my credit, I've had a Capital One Platinum Card with a small limit (750) for a few years, just found out I was approved for a Discover IT card with a significantly higher balance, and I picked up an Amazon Store Card a few months back. I want to make sure to not carry a balance from month to month, and the easiest way for me to do that is pay bills and such with the Discover Card and then pay it immediately. My underlying question is, is it bad to pay more than once in a given billing cycle? I'll still pay every month, but potentially 2 or 3 times a month. Would this have any negative effect when it comes to getting CLIs in the future?

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