Usage on new account

[Anonymous]

This may possibly be a dumb question or maybe even discussed already, so I apologize in advance. I just got a chase sapphire preferred card with the 50k point deal. I've only had the card for one month, my first statement just closed and Ive already charged up $2600 (purposely to reach the $3k requirement). The limit on the card is $5k. My question is will this hurt my standing by charging so much so soon? I've read stories of chase lowering CL due to high usage. I'm going to pay the entire balance off in full so I'm assuming I won't have a problem. Just thought I'd ask the group.

[Open123]

Unless it's payments to yourself or gift cards, I'd imagine they'd increase your limit as opposed to lowering it.

[CreditScholar]

I'm pretty sure that you will be fine. The Sapphire Preferrred is a Visa Signature which means the minimum CL is $5000. They can't offer anything lower in that format. As long as you pay off your balances on-time, it'll be ok.

I charged $7,000 on my Sapphire Preferred in the first month and they didn't seem to mind at all.