topic Re: Can you run too much through a credit card in Credit Cards

Can you run too much through a credit card

Joecooltech — Thu, 30 Nov 2017 17:44:22 GMT

So I I was wondering from people more experience than I. Is it possible to run too much money through credit card? My rebuilder card is the capital one platinum card with a $300 limit so far I’ve had three months and ran about 4.5 k through the card since then. Is that too much?

Re: Can you run too much through a credit card

AverageJoesCredit — Thu, 30 Nov 2017 17:49:38 GMT

I dont think so but seeing as thats a Plat it will probably be bracketed on how high it gets. When you get a better C1 card, they are gonna luv those high spend, multiple payments lol. Seems thats how to work their cli process

Re: Can you run too much through a credit card

Anonymous — Thu, 30 Nov 2017 17:49:39 GMT

As long as you're not leaving high balance to report to your statement resulting in high UTI ( > 30%), the answer is no.

Re: Can you run too much through a credit card

simplynoir — Thu, 30 Nov 2017 17:54:56 GMT

@Joecooltech wrote:
So I I was wondering from people more experience than I. Is it possible to run too much money through credit card? My rebuilder card is the capital one platinum card with a $300 limit so far I’ve had three months and ran about 4.5 k through the card since then. Is that too much?

As long as your spend is relative to your reported income I don't think there is such a thing as using your credit card too much. But I'd imagine as your spend approaches "beyond your living means" then lenders would suspect suspicious activity such as manufactured spending.

Re: Can you run too much through a credit card

Anonymous — Thu, 30 Nov 2017 18:48:31 GMT

@Joecooltech wrote:
So I I was wondering from people more experience than I. Is it possible to run too much money through credit card? My rebuilder card is the capital one platinum card with a $300 limit so far I’ve had three months and ran about 4.5 k through the card since then. Is that too much?

My question is why you are running that much money through a card that gives you no benefits. Why don't you try and convert to a quicksilver so you get the 1.5 percent back. For a a Cap One platinum I would make one charge per month on it.

Re: Can you run too much through a credit card

simplynoir — Thu, 30 Nov 2017 19:14:34 GMT

If they're in rebuilding mode the secured CapOne plat is probably the best card they can get for their financial circumstances. Hard to judge someone for that all things considered without knowing more about the person's situation.

Re: Can you run too much through a credit card

K-in-Boston — Thu, 30 Nov 2017 19:29:01 GMT

Yeah, three months into a rebuild rewards should probably be secondary but it sounds like OP is on their way to being ready to apply for a prime product in the not-too-distant future. Since it's CapOne it's hard to tell whether the comparatively massive spend you're putting through the card will prompt them to give you a good credit line increase, or if they'll decide you don't seem to have a problem making near-daily payments to remain within your credit line. Most other lenders would certainly see that as a sign that you need more spending power STAT!

@simplynoir hit it on the head - no such thing as too much spend unless it looks manufactured or is significantly more than your income would support.

Re: Can you run too much through a credit card

BronzeTrader — Thu, 30 Nov 2017 20:06:57 GMT

@Joecooltech wrote:
So I I was wondering from people more experience than I. Is it possible to run too much money through credit card? My rebuilder card is the capital one platinum card with a $300 limit so far I’ve had three months and ran about 4.5 k through the card since then. Is that too much?

There has to be some reason for a $300 credit line. This can be off the radar. But some CC banks can have problem with the excess spending. They can suspect there is something going on if this is noticed.

Re: Can you run too much through a credit card

Anonymous — Thu, 30 Nov 2017 20:15:52 GMT

@K-in-Boston wrote:
Yeah, three months into a rebuild rewards should probably be secondary but it sounds like OP is on their way to being ready to apply for a prime product in the not-too-distant future. Since it's CapOne it's hard to tell whether the comparatively massive spend you're putting through the card will prompt them to give you a good credit line increase, or if they'll decide you don't seem to have a problem making near-daily payments to remain within your credit line. Most other lenders would certainly see that as a sign that you need more spending power STAT!

@simplynoir hit it on the head - no such thing as too much spend unless it looks manufactured or is significantly more than your income would support.

I predict a 150 dollar credit limit increase at 5 months.

Re: Can you run too much through a credit card

Joecooltech — Thu, 30 Nov 2017 22:52:48 GMT

You are correct there is a valid reason. A Divorced four years ago set me back. So although I am financially stable in the eyes of the credit world I’m starting over

Re: Can you run too much through a credit card

Shooting-For-800 — Fri, 01 Dec 2017 02:22:27 GMT

The more you put through Cap One the more chance of higher credit lines or at least higher SL when you open new cap one accounts as your credit improves.

I started at $3k with Cap One less than 4 years ago, now I have 3 cards totaling $80k.

I have been loyal, charged thousands each month, and made large payments WEEKLY.

YMMV.

Re: Can you run too much through a credit card

Anonymous — Fri, 01 Dec 2017 09:29:21 GMT

No, I kept maxing it out and making multiple payments and would let it report under 9% utlization. Read enough posts and you'll realize it doesn't seem to matter **bleep** you do with Cap1 secured...it won't budge past the $500 on the 6 month mark. Then the real cards come.

Re: Can you run too much through a credit card

Joecooltech — Fri, 01 Dec 2017 20:47:11 GMT

Shooting for 800, that is my goal I figure if I literally just pound cash through this card my next capital one card well have a decent starting line and to be honest I really only want one card with a decent line I’ve done the whole 17 credit cards 15 at 0% utility using one and then rotating every six months.

Re: Can you run too much through a credit card

simplynoir — Fri, 01 Dec 2017 20:51:27 GMT

@Joecooltech wrote:
Shooting for 800, that is my goal I figure if I literally just pound cash through this card my next capital one card well have a decent starting line and to be honest I really only want one card with a decent line I’ve done the whole 17 credit cards 15 at 0% utility using one and then rotating every six months.

If you keep it up they'll happily give you a QS/Savor/Venture with a 5 figure starting limit once your credit situation settles down.

Re: Can you run too much through a credit card

jim44 — Fri, 01 Dec 2017 21:05:00 GMT

If you do PC to the C1 Quicksilver, be sure it doesn't come with the AF. That would defeat the whole purpose IMHO.

Re: Can you run too much through a credit card

Anonymous — Fri, 01 Dec 2017 23:09:43 GMT

@simplynoir wrote:
@Joecooltech wrote:
Shooting for 800, that is my goal I figure if I literally just pound cash through this card my next capital one card well have a decent starting line and to be honest I really only want one card with a decent line I’ve done the whole 17 credit cards 15 at 0% utility using one and then rotating every six months.
If you keep it up they'll happily give you a QS/Savor/Venture with a 5 figure starting limit once your credit situation settles down.

Yeah but so will everybody else and everybody else has better cards than Capital One. I got the Platinum January and then at 5 months got an increase from 500 to 750 dollars. Only charged one thing on it. Converted it to Quicksilver after that and haven't used it since. I went from zero credit to 185,000 in limits in 10 months. One charge a month and pay in full is all you have to do with these rebuilder cards.

Re: Can you run too much through a credit card

AverageJoesCredit — Fri, 01 Dec 2017 23:18:00 GMT

If all you have is a rebuilder card you might as well use it, so long as you make your payments. OP will see brighter days ahead should he decide to continue with Cap One.

Re: Can you run too much through a credit card

Joecooltech — Sat, 02 Dec 2017 00:05:07 GMT

I agree I don’t want to PC with AF I would love to have The Quicksilver the 1.5% cashback but not in the position to leverage that option score wise.

Re: Can you run too much through a credit card

Anonymous — Sat, 02 Dec 2017 03:02:39 GMT

Did you look into Discover Secured? At least most people have success with it growing and unsecuring pretty quick so if you put even 1k on that one you'll get it back faster. That was the one card everyone seems to recommend for rebuilding besides Cap1 opening the doors. Read the Discover Unofficial Data Points thread..someone just told me they started with 1k and got 13k within a year.

Re: Can you run too much through a credit card

Joecooltech — Sat, 02 Dec 2017 10:17:41 GMT

I don’t really wanna go the secured route my cap one is unsecured. Also I added 10 lines of credit in the last 20 months. The cap one card is my only real bank card. I have a few retail comenity bank of course. some how finger hut keeps giving me increases with no usage I am up to 1,700 go figure. 2 car loans and some personal loans I took out backed up by my own cash at my bank. Just to have a good mix of reloving and installment My average age of account right now is way ugly last thing I wanna do open another account. My overall score is still horrid