How close can you run a new card to max.

[tornadoguy]

Thanks for the explanation HiLine - too embarassed to ask though I was guessing there was a trick to it. Will use that.

I realise the experience thing counts, unfortunately that takes time - and I'm left with a small limit card until such time as that sorts itself.

However, in regards to the strategy, I am monitoring the balance daily to the ensure I stay under 90% on the limit, and paying it off as soon as it clears. I am very concious that hitting the limit is a big no-no. From reading a large number of threads here and elsewhere, those who have had success getting a Chase auto CLI (particularly for small accounts) have done so by doing 3 things:

1. Heavy Usage - Putting more than their CL through the card each month, typically 2-3x by partial monthly payments.

2. Always paying in full.

While this formula doesn't seem successful for the higher limit cards (which makes sense, as when you get there its a different relationship and credit history arrangement), for those who start low it seems like 2-4 months in an auto CLI to push the limit to 800, 1000, 1200 or 1500. Given my current limit - I'd take any of those. At the very least the high usage gives Chase an idea that I want to use the card to pay for plenty, and that offering me a better limit would mean their benefit. While that might not work initially, when I do go for a CLI from them I have more evidence of the capability to use credit. For those who start low it seems you can get two auto CLIs during the first year, depending on usage.

[Quote]They have a 3 day limit on payments; you can make only 1 payment per card and then must wait 3 days to make another payment on the same card.  So if you plan on making multiple payments in rapid succession, keep that in mind.  This is true with the 3 Chase cards I have, I presume it's across the board with all Chase products. [/Quote]

Not sure this is true - unless you mean bill pays? As paying the current balance via the website seems to be available each day.

[takeshi74]

---

@unc0mm0n1 wrote:
Thanks Hi-line. Although I knew the meaning some people on this thread clearly didn't. I love myFico but if there is one issue I see on this forum it's these high level comments. People use fargon that no one outside of the forum understands and instead of explaining the unusual term they just repeat it over and over again, wondering why the questioner doesn't understand

---

It's not high level jargon at all and not limited to use here.  Push and pull are common terms used to indicate how a transaction is initiated.  Even so, if one doesn't understand then one can ask for clarification and refer to prior discussions as well.

[thom02099]

---

@tornadoguy wrote:

Thanks for the explanation HiLine - too embarassed to ask though I was guessing there was a trick to it. Will use that.

I realise the experience thing counts, unfortunately that takes time - and I'm left with a small limit card until such time as that sorts itself.

However, in regards to the strategy, I am monitoring the balance daily to the ensure I stay under 90% on the limit, and paying it off as soon as it clears. I am very concious that hitting the limit is a big no-no. From reading a large number of threads here and elsewhere, those who have had success getting a Chase auto CLI (particularly for small accounts) have done so by doing 3 things:

1. Heavy Usage - Putting more than their CL through the card each month, typically 2-3x by partial monthly payments.

2. Always paying in full.

While this formula doesn't seem successful for the higher limit cards (which makes sense, as when you get there its a different relationship and credit history arrangement), for those who start low it seems like 2-4 months in an auto CLI to push the limit to 800, 1000, 1200 or 1500. Given my current limit - I'd take any of those. At the very least the high usage gives Chase an idea that I want to use the card to pay for plenty, and that offering me a better limit would mean their benefit. While that might not work initially, when I do go for a CLI from them I have more evidence of the capability to use credit. For those who start low it seems you can get two auto CLIs during the first year, depending on usage.

[Quote]They have a 3 day limit on payments; you can make only 1 payment per card and then must wait 3 days to make another payment on the same card.  So if you plan on making multiple payments in rapid succession, keep that in mind.  This is true with the 3 Chase cards I have, I presume it's across the board with all Chase products. [/Quote]

Not sure this is true - unless you mean bill pays? As paying the current balance via the website seems to be available each day.

---

Here's an example, on my CSP card. Let's say I have a $100 balance.  I go to pay it today.  Tomorrow I log in, and a charge that I was expecting, but hadn't hit yet, does, for $50.  I immedately go to pay it, I get a message that I can't make a payment within 3 days of the prior payment. So I have to set the payment on that $50 to 3 days beyond the first payment.  This becomes tricky at the end of the billing cycle, when the payment due date is coming up. 

Of course, as others have pointed out, one can push from one's own account, rather than "pulling" from Chase's website.  But I have also found that, using "push" sometimes takes longer, at least when using my credit union account.  Last time I did it, with a Chase account, it was 7 business days before the payment posted to Chase.  As with anything credit-wise...YMMV. 

[HiLine]

Sorry about any potential wording confusion. What I meant was that the credit balance will add additional purchasing power to the credit limit, not that the credit balance raises the credit limit. Any purchase will first be deducted from the credit balance before counting against the credit limit.