topic Amount last paid spooky? in General Credit Topics

Amount last paid spooky?

FreedomHammer — Tue, 13 Jun 2023 16:33:03 GMT

My new Fidelity card has been great and has been receiving a lot of activity.

As I do with my other cards, I pay it off most times after the transactions post.

Only on my EX report does it show an amount of last payment. $2560.

I'm running through some other family members' expenses through it for cash back. At most, it's around $2500. I always PIF.

I should note that I am charging more than my income in the hopes of receiving a CLI from Elan down the road.

Do my other creditors (namely AmEx) see this and care? Or is that my UTIL is 1% azeo (due to my PIF) more important?

Should I back off?

Re: Amount last paid spooky?

SouthJamaica — Tue, 13 Jun 2023 17:39:18 GMT

@FreedomHammer wrote:
My new Fidelity card has been great and has been receiving a lot of activity.

As I do with my other cards, I pay it off most times after the transactions post.

Only on my EX report does it show an amount of last payment. $2560.

I'm running through some other family members' expenses through it for cash back. At most, it's around $2500. I always PIF.

I should note that I am charging more than my income in the hopes of receiving a CLI from Elan down the road.

Do my other creditors (namely AmEx) see this and care? Or is that my UTIL is 1% azeo (due to my PIF) more important?

Should I back off?

What's the credit limit?

I must say that if I were a lender I would be 'spooked' by someone who is charging more than his income, and if I'm not Elan I would not be favorably disposed towards someone doing all his spending on Elan's card instead of ours.

So yes, my suggestion would be to 'back off'

Re: Amount last paid spooky?

FreedomHammer — Tue, 13 Jun 2023 17:42:05 GMT

The credit limit is $6300.

I've had the card since February, and my average monthly spend is $1600.

Re: Amount last paid spooky?

SouthJamaica — Tue, 13 Jun 2023 18:07:24 GMT

@FreedomHammer wrote:
The credit limit is $6300.

I've had the card since February, and my average monthly spend is $1600.

Well I think you'll be better off in the long run to just do normal spending.

Re: Amount last paid spooky?

FreedomHammer — Tue, 13 Jun 2023 23:01:39 GMT

Interestingly enough, I received an email survey from Amex tonight asking me to rate/compare my BCE with my other most used card.

Re: Amount last paid spooky?

Kforce — Wed, 14 Jun 2023 00:18:06 GMT

@FreedomHammer wrote:

I'm running through some other family members' expenses through it for cash back.
At most, it's around $2500. I always PIF.
I should note that I am charging more than my income in the hopes of receiving a CLI from Elan down the road.

Yes, I would back off.

Issuers are known to be concerned when spend is to high for reported income.

For users that are starting out or rebuilding that get lower CL's, they often over look multiple payments and going over your CL monthly, however spending more than reported income is a different subject.

I also do not believe most issuers hand out CL's from high spend.

There are a few but most don't care. (YMMV)

Re: Amount last paid spooky?

FreedomHammer — Wed, 14 Jun 2023 01:21:47 GMT

I've spent about a third of my reported income within four months.