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Established Contributor
Posts: 922
Registered: ‎10-02-2007
0

Weekly Payments OK?

 

 

I use my Barclays Apple Financiing Visa for everything..they incresed my CL from 1700 to 3500 two days ago.

3500 is not quite high enough

 

So I charge like 900 at a time wait for that to post then pay it off

I usually do this once a week ...so 3600 in a month

 

This is ok and looks good right?

 

Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Weekly Payments OK?

You can make as many payments as you like, any creditor likes seeing you can pay back your debts easily.



EQ FICO 548 3/3/16
Frequent Contributor
Posts: 403
Registered: ‎02-01-2010
0

Re: Weekly Payments OK?

They just want to get paid! Your weekly payments may end up being a good argument for a CLI.

Meg.

FICO: 4/2016 - TU 841 | EQ 840 | EX 837

FNBO 23,600 | Amex SPG 13,900 | Amex BCP 13,400 | Barclays/Sallie Mae13,000 | Discover IT 12,500 | Lowes 10,000 | PLOC 9,300 | NASA FCU 8,700 | Citi Simplicity 6,200 | BOA Platinum+ 6,000 | Achieva CU 5,500 | Chase CSP 5,000 | Sam's Club 3,000 | Sears 900
Established Contributor
Posts: 803
Registered: ‎05-16-2012
0

Re: Weekly Payments OK?

I do not think it matters. I know some have said that some creditors might think you have budgeting problems but I am not sure I agree. I pay my credit cards 2-4 times a month and I don't think it has made me look bad.

100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Frequent Contributor
Posts: 351
Registered: ‎04-21-2012
0

Re: Weekly Payments OK?

Not a problem at all.  In fact I highly recommend it to keep you utilization lower on your statement date.  If you only paid once a month and you added 3400 of your 3500 CL you are going to look like you have a high utilization and this would lower your FICO score

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
____25k________25k________20k________31k________25k___
Starting Score: 732 October 2007; Current Score: 800 EQ; TU 826, November 2016; Goal Score: 810 by end of 2016
Oldest Reporting Account: 14.8 years; EQ AAoA: 6.7 years; typical credit utilization 1.6% typical single card utilization 9.8%

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