Hello forums. I'm about to get my third statement for my visa rewards card in few days and I was wondering what should I consider before hitting the increase my limit button. My current limit is 4k. I spend around 2500 then pay back in full but I'm a business owner and need to spend double that amount. Should I pay in full before the statement then ask or after the statement or pay after statement then ask or does it matter? I'm trying to avoid a HP.
Also when it comes to utilization, Im always paying my balance off before the statement but what if I pay the day it's generated? I'm asking because AMEX and NFCU both say Payment is received immediately after I submit so will they report what it's gonna be with my payment or what has actually cleared?
You are over thinking it with NFCU. With NFCU it does not really matter when you pay, just as long as you pay by the due date. To avoid the HP, most wait three statements AND 90 days before they click the button. A sp is not guaranteed but most, including myself, have benefited from the sp. Any time you apply for credit or an increase to existing credit there is always the chance that it will result in a hp.
I have noticed with both Amex and NFCU that when I pay before the cycle date, the $0 reports to the bureaus, but then, I do not really pay too much attention to it. Others might be able to answer this better than I can.