Any benefit(s) to multiple CC payments over one?

[Anonymous]

If your a PIF kind of person, is there any benefit to making multiple payments throughout the month rather than one lump PIF after the statement cuts?

I guess one could be your chances of ever "forgetting" or having a late payment would be greatly reduced or eliminated.

How about when your creditor SPs you?  If they SP you mid-cycle on their own and your balance is say 50%, if for some reason a few weeks later you request a CLI or something and they use that SP wouldn't their consideration assume that you're still at 50% balance?  If that's the case, I would think multiple payments would reduce the chances of this happening.

Any other reasons anyone may suggest?

[Anonymous]

multiple payments throughout the month will show lower utilization on the report than PIF after the statement cuts.

It allows a person to put more through the card in one month than the limit. This may or may not signal to the lender that the person needs an increased limit.

Some people like to pay bills when they have the money, rather than wait.

[Anonymous]

I usually just make one lump PIF, but there are benefits to multiple payments, depending on a person's credit use. If your spending exceeds your credit limit because you have few cards or limits aren't high enough to fit your spending, making multiple payments means you won't charge over the limit and be declined or hit with fees. Also simply lowering utilization (depending on when your lender reports) no matter what your spending is, before the statement cuts to improve credit score (with the added possibility of what you mentioned concerning CLI and SPs). Sometimes maybe making smaller payments vs one big lump sum might work better for how the person schedules paying other bills and expenses. Or maybe the person just wants the habit of paying credit bills weekly, as a positive financial behavior for them.

[Anonymous]

Oops DaisyFly, only saw yours after posting mine!

[Anonymous]

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@Anonymous wrote:

Oops DaisyFly, only saw yours after posting mine!

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LOL, great minds think alike.

[Anonymous]

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@Anonymous wrote:

multiple payments throughout the month will show lower utilization on the report than PIF after the statement cuts.

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What do you mean by "on the report?"  If you mean what is reported to the bureaus, I wouldn't think multiple payments would matter as paying 1 lump sum monthly would still result in $0 being reported to the bureaus.  Are you referring to periodic soft pulls that may see utilization throughout the month?

[Anonymous]

It doesn't make a difference unless you want a CLI. Cap1 likes you to do one big payment vs multiple small payments. And for takeshi (whenever you want to come correct me) this is based on my personal experience with 4 cards from them and multiple user experiences. 2 of them I did smaller payments and two I just did one big lump sum and the two with the lump sum went up by $3k on one and $8k on the other and the 2 smaller payment ones didn't budge. Same cards

[Anonymous]

I run about $12K/month on my $2200 Freedom so I am always at the drive-thru lol

[driftless]

Boy, it really depends on your spend and CL's. You can only run so much through your CL without being forced to make another payment. I would agree that some ccc, like Cap One and Chase, like to see your ability to make large payments rather than several small payments. I had similar experiences to 2011exterror in that I was rewarded with nice, unrequested CLI's when I made single large payments consistently.

[Anonymous]

Yeah I forgot about chase. I only used the card for like a month and a half for spend, paid the $3k off in one payment and the next month they raised my CL by $1,500

I am making small payments on another one that I am meeting spend on to see the trend