@Anonymous wrote:
@Firehorse wrote:
@red259 wrote:You would have to do a push payment. There are lots of stories of lenders taking AA action against people for making multiple payments per month. My view of this is that the AA is not a result of the multiple payments, but because the people that are running up their cards and paying down suddenly may be spending at a rate that looks to be beyond their means. Also, it is considered suspicious due to money laundering etc. I try to limit myself to two payments a cycle if possible. I've had cards with lower limits where I had to make multiple payments each month and it did not cause a problem. I just wouldn't be doing so with high overal credit util across all cards. Obviously Amex is going to be more wary of new accounts with no history vs accounts that have been with them for awhile.
This perspective just seems crazy to me and makes no sense. Paying it down looks like you are beyond your means? Who are these people? LOL! What difference is it if I PIF at once or do it in increments? I get the laundering perspective though but jeez...
I usually limit to two as well. But I'm getting used to using it in place of debit to get my bonus. So ironic, I was worried to NOT keep paying it because I didn't want to look like I was about to max it out in the first month.
** edit your vs. you're (makes me crazy if it's wrong)
Not crazy logic to me. Think of it this way, do you think people with money micromanage their accounts like you do? Absolutely not. The only ones who micromanage their accounts are people with little money that are super responsible and be cautious. Bankers and their algorithms know this. So, it's best to behave like you have real money, until you have real money, for real!
Well this is true to an extent. People who are not aggressively seeking cards all the time have no need to manage their util and instead have a couple of cards and tend to favor one card and pay the bill when it comes each month. However, the people on these boards are seeking new cards somewhat frequently and therefore have to stay much more on top of their util. It really does not have anything to do with who has "real money", but the lender can not be sure if someone is applying for lots of cards because they need the credit or just because they are chasing rewards etc.
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@Anonymous wrote:
@Firehorse wrote:
@red259 wrote:You would have to do a push payment. There are lots of stories of lenders taking AA action against people for making multiple payments per month. My view of this is that the AA is not a result of the multiple payments, but because the people that are running up their cards and paying down suddenly may be spending at a rate that looks to be beyond their means. Also, it is considered suspicious due to money laundering etc. I try to limit myself to two payments a cycle if possible. I've had cards with lower limits where I had to make multiple payments each month and it did not cause a problem. I just wouldn't be doing so with high overal credit util across all cards. Obviously Amex is going to be more wary of new accounts with no history vs accounts that have been with them for awhile.
This perspective just seems crazy to me and makes no sense. Paying it down looks like you are beyond your means? Who are these people? LOL! What difference is it if I PIF at once or do it in increments? I get the laundering perspective though but jeez...
I usually limit to two as well. But I'm getting used to using it in place of debit to get my bonus. So ironic, I was worried to NOT keep paying it because I didn't want to look like I was about to max it out in the first month.
** edit your vs. you're (makes me crazy if it's wrong)
Not crazy logic to me. Think of it this way, do you think "people with money" micromanage their accounts like you do? Absolutely not. The only ones who micromanage their accounts are people with little money that are super responsible and want to be cautious. Bankers and their algorithms know this. So, it's best to behave like you have real money, until you have real money, for real!
I actually do have quite a bit but it's all for a down payment on a house. I mean I'm not a millionaire or anything with that kind of "real money." I believe that's your point. There are those that have financial disabilities that need to stay focused. I fall in that category and can get myself in trouble simply because I'm not paying attention. SO I must stay focused. But then I end up getting hyperfocused. Unfortunately, the model takes the bell curve and not the exception. I will play by their rules because I have no choice. It's just everytime I turn around there's something else that pops up. It's so frustrating.
@Anonymous wrote:
@Firehorse wrote:I actually do have quite a bit but it's all for a down payment on a house. I mean I'm not a millionaire or anything with that kind of "real money." I believe that's your point. There are those that have financial disabilities that need to stay focused. I fall in that category and can get myself in trouble simply because I'm not paying attention. SO I must stay focused. But then I end up getting hyperfocused. Unfortunately, the model takes the bell curve and not the exception. I will play by their rules because I have no choice. It's just everytime I turn around there's something else that pops up. It's so frustrating.
Unfortunately or FORTUNATELLY, the banks know little about your real financial situation, so they make educated guesses in their algorytms based on what most people who do this or that end up having or not having financial trouble. If you are before a shark and decide to behave like a delicous morsel...
LOL! 
This topic is really helpful in trying to figure some things out.
So, what would be your suggestion when you use a card quite actively, want to PIF before the statement end, but still have pending transactions that could get posted as a balance?
I'm guessing stop the day before, add up what's posted with what's pending and then PIF for that amount...
@Firehorse wrote:This topic is really helpful in trying to figure some things out.
So, what would be your suggestion when you use a card quite actively, want to PIF before the statement end, but still have pending transactions that could get posted as a balance?
I'm guessing stop the day before, add up what's posted with what's pending and then PIF for that amount...
You may not be able to pay the full amount. In that case your would need to send a payment from your bank (push payment) which can take a few days. Best course of action is to stop spending a few days before so that the charges all clear through and then you can PIF all at once. Its a pain but the safest way to make sure a balance doesn't accidently report.
@Anonymous wrote:One reason cited by some issuers (Citi and Amex to name names!) for not wanting to see multiple payments is to reduce MS. A lot of MS people try to spend a multiple of their CL each month, and of course can only do this by paying often. In the cases reported, Amex told one person to keep it to one CL per month (which is why I asked for a CLI!) , and Citi told another that if they continued to spend multiples, Citi might have to take action.
And with no evidence for this but anyway: I can imagine that issuer gives you a CL of X, on the belief that income etc supports spending up to $X a month, along with amounts on the other cards. If you start spending 2X or 3X, maybe they feel your income isn't sufficient to handle that.
Now that made sense!
Although, if you are paying it. You seem to have it. I'm sure what it really comes down to is someone has abused the system and the rest of us have to pay the interest for it. 