Ok so background - only have had the Chase Freedom since the weekend. But as I am going back to Aus for a couple of weeks on the weekend I wanted to give Chase a nice hint that the CL they gave me wasn't adequate on my first statement ($500). The reason for the small limit is its my first card owing to recent intercontinental relocation (despite a 57k salary)
My biggest challenge thus far has been waiting for the charges to come off pending and post to the account so that I can pay them off. Thus far I've run over $500 In charges through the card and paid it back down to keep it sub 50% util. Intention is to pay in full each month, and see if putting plenty through the card encourages Chase to be a little generous and give me an auto CLI. I have a purchase >50% of my limit (~60%) that I want to make online before I'd leave that I'd rather not use the debit card for so hence was wondering if they aren't gonna like it much if I push it close to 90% util, before paying it down below 50% again as soon as the charges that haven't done so yet post. I will most likely take my Util below 20% before statement cut to keep balance reporting low. Would appreciate any thoughts on this.
I think this is a good idea! i have been doing the same but be sure to keep up with those dates. one of mine caught me with a 80% UTL cause i didn't keep the dates straight.
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If your paying the charges down as soon as they post I doubt they can fault you for that, especially given your miminal limit. If your paying your balance down to sub 20% before statement cuts and then PIF before the due date that should be sufficient. If you can get util down to sub 10% that would be even better but sub 20 is fine given the small limit. I think the problem would occur if you max out the card and then carry the balance month to month with miminal payments.
;I know with my freedom you can pay a little extra which is how I usually address pending payments that I want to pay off as well.
You could always push payments through your bank.
@Omnipotent wrote:No need to worry. I went over my limit 20 days later after I received my CSP. Took a trip to the west coast, then came back paid about 25% then paid the rest when the statement came in.
Different circumstances. CSP are a Visa Signature card where charging over the limit is allowed. A Chase Freedom with a $500 limit does not have this luxury.
As long as you pay off the balance, there is virtually no risk in running a card to the limit, especially for cards that have meager limits. If you are concerned, you can always pre-pay the purchases by pushing money to the card via your bank.
