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Using limit. Paying and using limit.

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j615
Regular Contributor

Re: Using limit. Paying and using limit.

When I used my WF card heavily back then (when WF was my only active CC), I made multiple payments per billing cycle and have charged more at the end of the cycle vs my low limit. I've had no issues. When I say that I made multiple payments, it can be as much as transfering a payment from my WF Checking to the WF CC every 3-4 days. Actually, I push a payment to all my cards with WF, Amex, and Chase at least once or twice a week nowadays if the card has a balance. I was leery of doing this for a long time, but again... no problems. YMMV.

Message 21 of 23
Anonymous
Not applicable

Re: Using limit. Paying and using limit.


@Anonymous wrote:

I dont even know why i would beleive anythign WF has said to me, they screwed me so hard in the last 3 years, opening & closing accounts, lying about fees and just plain terrible customer service in general. Funny thing, when i finally got fed up after fixing my Chexsystems report, they were all NOOO PLEASE DONT LEAVE US!!!! tried offering all sorts of things that i was told days before that COULDNT be done. so i smiled, and left forever.


I would hesitate to belive a bank or any of their employees that has mulitple law suits out against them for gaming the system and opening mulitple chekcing accounts that customers had no idea were being opened. 

Message 22 of 23
takeshi74
Senior Contributor

Re: Using limit. Paying and using limit.


@Anonymous wrote:
So, I had a Wells Fargo banker

Is this banker actually an underwriter?  Always consider your sources.

 


@Anonymous wrote:
Spent say $800 over the course of 2 weeks. Paid off 700. Then before the statement over the remaining 2 weeks used more. Up to the limit. Then PIF at end of month. She said that they view this as going "over limit" without actually being that. Is this true? Am I gonna be penalized if I feel like putting purchases on a CC instead of paying cash? Only to pay it down and reuse?

Generally does not matter.  People tend to obsess over usage here but usage will not overrule one's credit profile which is the primary consideration with credit decisions.  It definitely won't have an impact with other creditors (i.e not Wells Fargo) since such activity is not indicated on your reports.

Message 23 of 23
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