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I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
Some issuers state that they don't want you to make more than so many payments per statement but I've never run into any problems doing 2-4 on any card.
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
lolz, that's their fault.. You wouldn't make multiple payment if they only gave you a higher CL.
I usually do 2 payments a month. First payment before the statement close and leave a 1% bal to report to CB and payoff the 1% after the statement cuts and monthly bill generates.
I would call the issuer to see if you can. I've read that Chase customers can do it without any problems. In fact, I may do that myself by Friday since my due date next month falls on the same day that I get paid and I don't want to forget to pay it.
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
I make multiple payments on every single card I use every month...If it does any harm I can't tell. My scores are always in the 800 range.
@sarge12 wrote:
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
I make multiple payments on every single card I use every month...If it does any harm I can't tell. My scores are always in the 800 range.
That's all I really need to know. I can make multiple payments on all of my cards. I've just never given it any thought really. It just seems some had an opinion that it was considered bad to keep good relations with CC companies for CLI and new apps. IDK why. Oh well...just wondering.
@BluePoodle wrote:
@sarge12 wrote:
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
I make multiple payments on every single card I use every month...If it does any harm I can't tell. My scores are always in the 800 range.
That's all I really need to know. I can make multiple payments on all of my cards. I've just never given it any thought really. It just seems some had an opinion that it was considered bad to keep good relations with CC companies for CLI and new apps. IDK why. Oh well...just wondering.
Just sayin.. If I was your bank, how can multiple payments be bad.. Keep em comin.. LOL
@BluePoodle wrote:I have read a few posts lately that state that making multiple payment on a CC (I assume before next statement cuts) is considered a bad thing to do. I have never really thought about it before. I don't do it often but I know I have done it before. What exactly is the reason that this is such a bad thing to do?
I'm running an experiment with making multi payments in a month. The CL is $500 and the total spending is at $800. We made 2-3 payments already from the bank. The statement has not cut yet.
TU somehow found that and the FICO dropped by 38 points.
I figure all CCs can differ. Pay attention to your utilization rate.
We do this on my wife's main credit card and our business card . The business one also shows up under her credit also. Her scores are over 770. The business has a very high limit and was just raised . I try to keep her under 10%. I don't think it hurts your score.