topic Re: Frequency of payment question in Credit Cards

Frequency of payment question

Rogue46 — Wed, 18 Oct 2023 17:35:41 GMT

I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this and Amex and Chase do but i'm not sure about the rest of the cards i have.

After dealing with a bk7 all this time I'm paranoid that I will miss a payment so I literally pay off balances as soon as they appear, I get anxious having to wait until the end of the cycle..

Re: Frequency of payment question

GZG — Wed, 18 Oct 2023 17:37:07 GMT

@Rogue46 wrote:
I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this and Amex and Chase do but i'm not sure about the rest of the cards i have.

After dealing with a bk7 all this time I'm paranoid that I will miss a payment so I literally pay off balances as soon as they appear, I get anxious having to wait until the end of the cycle..

no bank should deny a bill pay push from your bank to your card, no need to use the card's interface to pay your bill at all

Re: Frequency of payment question

PNWRambler — Wed, 18 Oct 2023 18:17:09 GMT

I have never had an issue making multiple payments per month on any of my cards. I have AmEx, Discover, Citi, Chase, Barclay, CapOne... I've never had an issue making a payment at any time, with any of them.

Re: Frequency of payment question

Kforce — Wed, 18 Oct 2023 18:17:51 GMT

As @GZG

I pay all CC's by push payments from CU's billpay service.

This lets me control when and how much I pay.

Get's past the issuers web page payment limits, payment time frame nonsense, etc.

Have found many issuers won't let you pay pending charges or make a payment for

more than an auto payment scheduled later in the month, and other strange

restrictive nonsense.

Pushing payments avoids the limitations.

Re: Frequency of payment question

Rogue46 — Wed, 18 Oct 2023 18:53:28 GMT

I'm going to try pushing payments I didn't think of that. And no it wasn't Citi being restrictive it was Wells Fargo they only allow 4 payments per month.

Re: Frequency of payment question

Wavester64 — Wed, 18 Oct 2023 19:34:30 GMT

@Rogue46 wrote:
I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this

I have 2 Citi CCs and never had a problem sending more than one payment to each per month

Re: Frequency of payment question

SouthJamaica — Wed, 18 Oct 2023 20:02:37 GMT

@Rogue46 wrote:
I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this and Amex and Chase do but i'm not sure about the rest of the cards i have.

After dealing with a bk7 all this time I'm paranoid that I will miss a payment so I literally pay off balances as soon as they appear, I get anxious having to wait until the end of the cycle..

I never heard of anyone not accepting multiple payments in a month.

Perhaps their online payment application doesn't, but you can always send the payment via bill pay from another institution.

Re: Frequency of payment question

Rogue46 — Wed, 18 Oct 2023 21:05:21 GMT

@Wavester64 wrote:
@Rogue46 wrote:
I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this
I have 2 Citi CCs and never had a problem sending more than one payment to each per month

My mistake it wasn't Citi it was Wells Fargo that only allows 4 payments per month

Re: Frequency of payment question

Kforce — Sun, 22 Oct 2023 16:55:25 GMT

Another problem from credit card issuer sites.

( Not 100% on subject but related )

If you have a card that is sock drawer, very rarely used,

some issuers (remove/cancel) linked bank/CU links.

( City - 6 months, as example)

So when you use the card, you need to set up your banking

links for payment again for each sock drawer card.

My CU billpay links don't expire from non use

Re: Frequency of payment question

Zoostation1 — Mon, 23 Oct 2023 00:12:33 GMT

@Rogue46Is it worth the stress of always paying it off multiple times? I'm also rebuilding post BK7, and while I have similar concerns about forgetting to make a payment. I now generally don't intentionally exceed 2 payments per month on any card and let 2/5 cards report a balance. FWIW some of the 2 payment situations are because of auto pay. On some cards if I let a balance report at statement closing it'll make a minimum payment auto pay even if I've already paid the statement balance. All that being said., while I don't do push payments from my bank, as others have noted it's the easiest way around limitations.

Re: Frequency of payment question

swankytiger — Mon, 23 Oct 2023 01:04:53 GMT

@Zoostation1 wrote:
Is it worth the stress of always paying it off multiple times? I'm also rebuilding post BK7, and while I have similar concerns about forgetting to make a payment. I now generally don't intentionally exceed 2 payments per month on any card and let 2/5 cards report a balance. FWIW some of the 2 payment situations are because of auto pay. On some cards if I let a balance report at statement closing it'll make a minimum payment auto pay even if I've already paid the statement balance. All that being said., while I don't do push payments from my bank, as others have noted it's the easiest way around limitations.

It could also be that they have a card that has a limit that is very low or less than what they normally spend in a month.

Re: Frequency of payment question

Rogue46 — Mon, 23 Oct 2023 17:11:28 GMT

@swankytiger wrote:
@Zoostation1 wrote:
Is it worth the stress of always paying it off multiple times? I'm also rebuilding post BK7, and while I have similar concerns about forgetting to make a payment. I now generally don't intentionally exceed 2 payments per month on any card and let 2/5 cards report a balance. FWIW some of the 2 payment situations are because of auto pay. On some cards if I let a balance report at statement closing it'll make a minimum payment auto pay even if I've already paid the statement balance. All that being said., while I don't do push payments from my bank, as others have noted it's the easiest way around limitations.
It could also be that they have a card that has a limit that is very low or less than what they normally spend in a month.

It's not that I only have 2 cards slightly below a 10k limit and rarely spend more then a few hundred per month on all my cards combined, It's more of a OCD thing I like seeing zero balances.

Re: Frequency of payment question

G2244 — Mon, 23 Oct 2023 20:52:35 GMT

@Rogue46 wrote:
It's not that I only have 2 cards slightly below a 10k limit and rarely spend more then a few hundred per month on all my cards combined, It's more of a OCD thing I like seeing zero balances.

If you are in a situaton to have zero balance, you may want to consider paying off your cards when/as you get paid. I get paid twice a month and at each cycle just go into each card and pay them in full. I may not be taking advantage of floating the free money to its fullest extent, but it works for me.

Re: Frequency of payment question

NoMoreE46 — Tue, 24 Oct 2023 20:53:45 GMT

@Rogue46 wrote:
I'm going to try pushing payments I didn't think of that. And no it wasn't Citi being restrictive it was Wells Fargo they only allow 4 payments per month.

I don't think there is a limit to paying a WF CC if you send from a WF DDA though.

PS, I know you can overpay a Capital One balance by 10% or so.

Re: Frequency of payment question

Beefy1212 — Tue, 24 Oct 2023 23:44:47 GMT

@Zoostation1 wrote:
@Rogue46Is it worth the stress of always paying it off multiple times? I'm also rebuilding post BK7, and while I have similar concerns about forgetting to make a payment. I now generally don't intentionally exceed 2 payments per month on any card and let 2/5 cards report a balance. FWIW some of the 2 payment situations are because of auto pay. On some cards if I let a balance report at statement closing it'll make a minimum payment auto pay even if I've already paid the statement balance. All that being said., while I don't do push payments from my bank, as others have noted it's the easiest way around limitations.

I am the exact opposite, I have all my cards apps lined up on my phone, once a week I just click through and pay everything, for me the stress is having bills hanging over me.

Re: Frequency of payment question

NoMoreE46 — Wed, 25 Oct 2023 06:29:14 GMT

@Rogue46 wrote:
I wanted to an idea of which cards let you pay the balance multiple times per month? I know Citi doesnt allow this and Amex and Chase do but i'm not sure about the rest of the cards i have.

After dealing with a bk7 all this time I'm paranoid that I will miss a payment so I literally pay off balances as soon as they appear, I get anxious having to wait until the end of the cycle..

Have you considered batching your due dates together @Rogue46 ? Doing this has made my life a little bit easier.

Anybody else batch your due dates together? - myFICO® Forums - 6700868

Re: Frequency of payment question

Zoostation1 — Fri, 27 Oct 2023 00:19:10 GMT

@Beefy1212I was micromanaging mine before with AZEO and ultra low utilization and I got tired of it. I've gotten to where it doesn't seem to hurt my FICO 8 scores at all to let 2/5 cards report balances if they aren't super high so I let my VX report naturally along with one other card reporting.

Re: Frequency of payment question

Beefy1212 — Fri, 27 Oct 2023 12:36:54 GMT

@Zoostation1 wrote:
@Beefy1212I was micromanaging mine before with AZEO and ultra low utilization and I got tired of it. I've gotten to where it doesn't seem to hurt my FICO 8 scores at all to let 2/5 cards report balances if they aren't super high so I let my VX report naturally along with one other card reporting.

Yea as I said it is about the balance owed not the UTI. I don't go out of my way to clear before a statement date. I just have OCD about paying my bills I don't like them hanging over my head, and also completely emotional it is more palatable to pay 50 bucks 20 times than 1,000 once. It is not a credit profile thing for me, it isn't even a penny pinching holding interest earning money to the last second. It is literally a compulsion to be debt free.

Re: Frequency of payment question

Rogue46 — Fri, 27 Oct 2023 19:46:06 GMT

@Beefy1212 wrote:
@Zoostation1 wrote:
@Beefy1212I was micromanaging mine before with AZEO and ultra low utilization and I got tired of it. I've gotten to where it doesn't seem to hurt my FICO 8 scores at all to let 2/5 cards report balances if they aren't super high so I let my VX report naturally along with one other card reporting.
Yea as I said it is about the balance owed not the UTI. I don't go out of my way to clear before a statement date. I just have OCD about paying my bills I don't like them hanging over my head, and also completely emotional it is more palatable to pay 50 bucks 20 times than 1,000 once. It is not a credit profile thing for me, it isn't even a penny pinching holding interest earning money to the last second. It is literally a compulsion to be debt free.

That's pretty much where I'm at, I'd rather pay smaller amounts several times per month then one big one and being absolutely debt free!

Re: Frequency of payment question

CreditCobra — Sat, 28 Oct 2023 23:04:31 GMT

I have a ton of cards, and I typically pay them all off every week. For me it's just easier than trying to remember when all the due dates are. So far that's working for me.