Really Confused....

[Revelate]

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@titanofold wrote:

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@Revelate wrote:

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@FixMyCredit1992 wrote:

Do some people run everything through thier CC, or is it better to use the debit card besides?

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I haven't used my debit cards in 2 years.  Not once.

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Once my fiancée and I get our debt in order we'll be using CCs exclusively. Rewards, man, rewards!

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I'd make the argument that even without rewards it makes sense to do so.

I try to make myself look as profitable as possible to both my current and future lenders: while I don't go and spend any more than I would normally (silly FICO tricks such as my secured installment loan notwithstanding) I do put any spending I can on my cards.  Couple of places in the past few years mandated cash, but other than that it's a credit card for absolutely everything... then again my burn rate is sort of small compared to a lot of folks admittedly so every little bit counts .

[barbaralee]

In the last 4 years I have only used my debit card for the ATM. My mother has never used a debit card IN HER LIFE and thinks they are some kind of evil voodoo, lol. Honestly, she is just worried about her account being exposed to fraud.

[killer_queen229]

I wouldn't max out that card if I was you.

[titanofold]

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@FixMyCredit1992 wrote:

If your CL is $300 and you put $500 on the account, will you be able to spend that $500, or not?

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Is it a secured card? Some systems will refuse to allow you to pay more than what's owed. Others will extend your credit by $200 until you use it up.

[Revelate]

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@killer_queen229 wrote:
I wouldn't max out that card if I was you.

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Why not?  More likely to get a CLI for whatever that's worth.  Can still pay before the statement date, and if you are spending more than your limit every month, by all means pay multiple times a month.

[FixMyCredit1992]

Yes, it's a secured card.

[killer_queen229]

Because I have always heard its bad and what if the user will need it and it's maxed out?

[FinStar]

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@FixMyCredit1992 wrote:

Yes, it's a secured card.

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Ok, that kind of explains it a bit based on how they have the account coded but I'm sure other folks who have a secured WF CC don't run into this issue I suppose.  Yet, if you are pushing payments from your bank account a couple times per month (or whichever pattern you have established) it still shouldn't cause any adverse action from what I can see.

[longtimelurker]

Re multiple payments per month leading to account closure:  apparently that is a possibility with Wells Fargo, according to what someone was told by their Fraud Department.   They don't like their rewards card being misused, so instead of doing sensible something like capping it, they apparently look into cases where multiple times the CL is used in each month, which in turn is flagged by multiple payments per month.

So it's just possible this is applied to all of their accounts, and so could catch innocent uses of very small credit limits (although one would hope that a targetted account would be reviewed).  Or the CSR could just be wrong.