Best way to pay Wells Fargo credit card?

[chiefone4u]

I made two payments in a single month using their payment system (from outside account) and received a letter from them (Wells Fargo) stating something along the lines of not allowing multiple payments to game the system to earn bonuses or rewards.

There was some wording warning that payments made to allow you to spend more than your assigned credit limit in a single month would result in account closure and loss of any accumulated rewards.

For this reason, I only use Wells Fargo to pay my cellphone bill (only card I have with secondary phone insurance) and PIF when statement cuts.

I vaguely remember having to verify ownership of my outside account before being allowed to make payments with it (not sure if that's normal or not).

[Hex]

@chiefone4u
Yikes!!!
Yeah I thought I read a post sometime in the past mentioning Wells Fargo and AA for making too many payments in a month. Maybe it was yours? I was probably going to try to squeak two payments through this month but I have had a change of heart. Thanks for the warning!

[Anonymous]

You can still PIF, report zero balance, hit the sub, AND not tick them off with multiple payments. Use the card as normal to hit the sub. A week before you statement cuts, stop using the card and PIF. Your statement will cut and report to the CRA with a zero balance. Once your statement closes, resume using your card. I do this with most of my cards so only one reports with a balance.

This is of course assuming Wells reports to the CRA on closing date. Some cards report on a specific day, like the first or last day of the month. That’s a little trickier.

[Hex]

I was approved for my card last Sunday and it arrived and was activated on Friday. I first used the card yesterday. Anyone know if Wells Fargo reports on the statement date or if they do something else? Does anyone with a Wells Fargo card remember how long it took to for them to generate the first statement after they opened their account? Does anyone think they might get antsy if I have a balance of 2.5K on a 4K card if I pay it to zero before the first statement? For some reason I’m a little worried about them.

[UncleB]

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@Hex wrote:
I was approved for my card last Sunday and it arrived and was activated on Friday. I first used the card yesterday. Anyone know if Wells Fargo reports on the statement date or if they do something else? Does anyone with a Wells Fargo card remember how long it took to for them to generate the first statement after they opened their account? Does anyone think they might get antsy if I have a balance of 2.5K on a 4K card if I pay it to zero before the first statement? For some reason I’m a little worried about them.

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If anything I would be concerned that your hands-on approach could make them more antsy than reporting a balance.

I have a Propel, and I've had family members who had their cards as well and none of us have ever had an issue, even with carrying a balance.  I usually let around $1k report each month, and I pay the bill in full when I get it - easy, peasy.

Is there a reason you're so concerned with the reporting and making multiple payments?

I don't think you'll hear a peep out of WF in any case, but keep in mind that it's usually good to do what's "normal" to stay off a bank's radar, and what is normal is to make one payment a month, usually when you get the bill (trust me, they won't mind!). 

If one is getting ready for a mortgage or other large loan I can understand micromanaging things to squeeze out every last FICO point, but just understand that AZEO, multiple payments per month, etc. isn't usual behavior as far as the banks are concerned (and usually isn't worth the effort anyway).

[Shooting-For-800]

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@chiefone4u wrote:
I made two payments in a single month using their payment system (from outside account) and received a letter from them (Wells Fargo) stating something along the lines of not allowing multiple payments to game the system to earn bonuses or rewards.

There was some wording warning that payments made to allow you to spend more than your assigned credit limit in a single month would result in account closure and loss of any accumulated rewards.

For this reason, I only use Wells Fargo to pay my cellphone bill (only card I have with secondary phone insurance) and PIF when statement cuts.

I vaguely remember having to verify ownership of my outside account before being allowed to make payments with it (not sure if that's normal or not).

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WOW.  That is STUPID.

I did not receive that letter but I was told after my 3rd or 4th payment in statement period that I could not make another payment until the following statement.

If I would have received that notice, that would have been the last time I used my propel card!