topic Re: Multiple payments to cap 1 in Credit Cards

Multiple payments to cap 1

Anonymous — Tue, 28 Sep 2021 04:12:38 GMT

Will capital one get mad if you pay them multiple payments each month ? I remember some lenders use to not like it but I couldn't remember if they were like that or not .thanks

Re: Multiple payments to cap 1

simplynoir — Tue, 28 Sep 2021 04:16:33 GMT

IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop

Re: Multiple payments to cap 1

Anonymous — Tue, 28 Sep 2021 04:18:24 GMT

@simplynoir wrote:
IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop

Ok thanks it been about 3 years since I messed with credit I'm a little rusty lol

Re: Multiple payments to cap 1

simplynoir — Tue, 28 Sep 2021 04:27:54 GMT

@Anonymous wrote:
@simplynoir wrote:
IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop
Ok thanks it been about 3 years since I messed with credit I'm a little rusty lol

It's always fine to ask just to make sure. I honestly can't think off the top of my head any banks that would find an issue with making multiple payments. Some cases it can't be helped such as a person needing to free up their credit line so they can keep making purchases; this could be due to the large amounts needed to simply the customer working with a small limit. In the end as long as banks get paid and the customer is not engaging in behavior that would warrant multiple payments such as manufactured spending then it should be okay

Re: Multiple payments to cap 1

Anonymous — Tue, 28 Sep 2021 04:32:28 GMT

@simplynoir wrote:
@Anonymous wrote:
@simplynoir wrote:
IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop
Ok thanks it been about 3 years since I messed with credit I'm a little rusty lol
It's always fine to ask just to make sure. I honestly can't think off the top of my head any banks that would find an issue with making multiple payments. Some cases it can't be helped such as a person needing to free up their credit line so they can keep making purchases; this could be due to the large amounts needed to simply the customer working with a small limit. In the end as long as banks get paid and the customer is not engaging in behavior that would warrant multiple payments such as manufactured spending then it should be okay
Yea I'm working with a 300 limit so it doesn't last long .ran it up to 150 paid it off now it back up to 150 again .

Re: Multiple payments to cap 1

simplynoir — Tue, 28 Sep 2021 04:39:31 GMT

@Anonymous wrote:
@simplynoir wrote:
@Anonymous wrote:
@simplynoir wrote:
IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop
Ok thanks it been about 3 years since I messed with credit I'm a little rusty lol
It's always fine to ask just to make sure. I honestly can't think off the top of my head any banks that would find an issue with making multiple payments. Some cases it can't be helped such as a person needing to free up their credit line so they can keep making purchases; this could be due to the large amounts needed to simply the customer working with a small limit. In the end as long as banks get paid and the customer is not engaging in behavior that would warrant multiple payments such as manufactured spending then it should be okay
Yea I'm working with a 300 limit so it doesn't last long .ran it up to 150 paid it off now it back up to 150 again .

Yes, in cases like yours it should be perfectly fine then. Capital One can't keep expecting you to spend on the card if you keep approaching the limit so easily. I see based on your post history you recently got the card. Any chance you are in their Credit Steps program - if it even still exists - so you'll receive a higher credit line after six months? Barring that I would see about getting an increase after a few months to ease the strain of you having to keep freeing your limit up

Re: Multiple payments to cap 1

Anonymous — Tue, 28 Sep 2021 04:44:17 GMT

Yes they didn't call it credit steps like in the past .but it did say u could earn a increase after 6 months .I use it at the gas pumps alot because I can't stand in a long line at the store I'm disabled

Re: Multiple payments to cap 1

simplynoir — Tue, 28 Sep 2021 04:51:30 GMT

Then you should be fine. Continue making payments as you need to so you can keep using the card. I can't imagine Capital One giving you any fuss over it

Re: Multiple payments to cap 1

Brian_Earl_Spilner — Tue, 28 Sep 2021 04:52:17 GMT

They allow multiple payments a month, but if you do too many they may hold a payment for 10-14 days to make sure it clears.

Re: Multiple payments to cap 1

Anonymous — Tue, 28 Sep 2021 04:53:00 GMT

Thanks alot

@simplynoir wrote:
Then you should be fine. Continue making payments as you need to so you can keep using the card. I can't imagine Capital One giving you any fuss over it

Thanks alot

Re: Multiple payments to cap 1

simplynoir — Tue, 28 Sep 2021 04:54:55 GMT

@Brian_Earl_Spilner wrote:
They allow multiple payments a month, but if you do too many they may hold a payment for 10-14 days to make sure it clears.

Interesting. Does this apply to each bank account that someone adds or they just consider it as one account altogether?

Re: Multiple payments to cap 1

Brian_Earl_Spilner — Tue, 28 Sep 2021 04:57:36 GMT

@simplynoir wrote:
@Brian_Earl_Spilner wrote:
They allow multiple payments a month, but if you do too many they may hold a payment for 10-14 days to make sure it clears.
Interesting. Does this apply to each bank account that someone adds or they just consider it as one account altogether?

Never tested it, but I assume it applies to the card itself. I don't remember the reason they give. I had it happen to me only once.

Re: Multiple payments to cap 1

Shooting-For-800 — Tue, 28 Sep 2021 11:26:18 GMT

I made weekly payments and got CLIs of up to $8k each.

Use it, pay it, grow it.

GL!

Re: Multiple payments to cap 1

Horseshoez — Tue, 28 Sep 2021 12:44:00 GMT

@Brian_Earl_Spilner wrote:
They allow multiple payments a month, but if you do too many they may hold a payment for 10-14 days to make sure it clears.

^THIS!

Last year after my Chapter 13 was discharged I opened up a CapOne secured Platinum card with a $1,000 limit. My normal monthly spend is several times the limit so I reasoned I'd pay weekly and be good to go. Nope! Generally speaking, they held every other payment of mine for up to 12 days, even though the money was pushed to CapOne via my online bill pay. In the end I got so frustrated with that card I closed it and opened up a high-limit secured card with my bank, and then lo-and-behold, six month later CapOne offered me an unsecured Quicksilver card with a $3,000 limit. Go figure.

Re: Multiple payments to cap 1

Anonymalous — Fri, 01 Oct 2021 02:27:45 GMT

@Anonymous wrote:
@simplynoir wrote:
@Anonymous wrote:
@simplynoir wrote:
IME back years ago when I used to use my Quicksilver cards they didn't mind multiple payments at all. Or at the least they never contacted me to ask me why I was doing it or stop
Ok thanks it been about 3 years since I messed with credit I'm a little rusty lol
It's always fine to ask just to make sure. I honestly can't think off the top of my head any banks that would find an issue with making multiple payments. Some cases it can't be helped such as a person needing to free up their credit line so they can keep making purchases; this could be due to the large amounts needed to simply the customer working with a small limit. In the end as long as banks get paid and the customer is not engaging in behavior that would warrant multiple payments such as manufactured spending then it should be okay
Yea I'm working with a 300 limit so it doesn't last long .ran it up to 150 paid it off now it back up to 150 again .

I'm in almost exactly the same boat. I got my first card from Cap One in May, with a $300 credit limit. For the first couple months, I bought a token amount on it so it would show a (1%) balance at the end of the billing cycle, but this month I've spent about $350, which I've paid off in 4 separate payments. No problems so far, and I don't expect any. If they want their customers to use cards with credit limits like ours, there's really no other way to do it.

In my approval thread, another poster (@Trini88 ) mentioned they started the same way about 2 years ago, and put a lot of money on the card each month, with multiple payoffs, but got no love when it came to CLIs... until they used the automatic upgrade link, product changed to Quicksilver, and got an CLI to $2000. So I think Cap One finds the spend desirable, but they're not always very good at showing it.

Re: Multiple payments to cap 1

Anonymous — Fri, 01 Oct 2021 02:29:15 GMT

When I first got my Capital One secured card 6 years ago, I made multiple payments because I wanted to show use and it only had a $200 credit limit. My good intentions earned me an account freeze for the rest of the billing period. Made one or two payments a month after that.

Re: Multiple payments to cap 1

Anonymous — Fri, 01 Oct 2021 03:57:56 GMT

@Anonymous wrote:
When I first got my Capital One secured card 6 years ago, I made multiple payments because I wanted to show use and it only had a $200 credit limit. My good intentions earned me an account freeze for the rest of the billing period. Made one or two payments a month after that.

I was thinking this happened a few years back.thats why I started this post it may be a ymmv thing too I'm fixing to send the 2nd payment of the month .yall wish me luck and thank yall all

Re: Multiple payments to cap 1

Anonymous — Sun, 20 Feb 2022 14:35:46 GMT

Well my multiple payments to cap 1 didn't seem to help .6th statement cut this morning no cli .first time in 30 years of on a off dealing with them it didn't happen .they usually start me at 300 and go to 500 on the 6th month .I just had a collection added from t-mobile .ic systems .over 800.00 even though the charge off was back in 2018 .the collection looks like it's 2 months old .

This I'm sure is contributing to no cli .

Oh well .keep chugging along .

Re: Multiple payments to cap 1

Anonymous — Sun, 20 Feb 2022 14:49:50 GMT

I frequently make more than one payment per month on both of my Cap 1 accounts.

As others have mentioned, I've never been asked, "Please don't send us money," but I have had a couple payments that took an extra day or two to be posted, especially if they were paying the balance down to zero.

Re: Multiple payments to cap 1

SoCalGardener — Sun, 20 Feb 2022 21:49:00 GMT

@Anonymous wrote:
Will capital one get mad if you pay them multiple payments each month ? I remember some lenders use to not like it but I couldn't remember if they were like that or not .thanks

I don't do this myself, but I know from general reading of various cards' FAQs that some banks limit how many payments you can make each month--but they're talking about using *their* payment feature. I pay all my bills via my bank's bill pay, and I *think* you'd be safe that way, even if the card limits the number of payments made through their site.

The best thing to do is check the FAQs and/or chat/call/text/e-mail the bank to get a definitive answer.