@TheFate wrote:Does a lender frown upon you for constantly charging and PIF multiple times throughout the month just to avoid going over your UTI?
I find myself doing this quite a bit with my QS card since it only has a $500 limit... I know others say its ok to max it out and pay it off before it reports but I dont charge more than 20% EVER. I'll just pay it off then charge another 20% then repeat. Could this affect future CLI's?
I often wondered about this. I would think that they don't care, so long as you are using their card? BUT, I am wondering since I did this with Discover and Chase for a year and they won't give a CLI, it does make me wonder more. I would pay in full every two weeks, sometimes even in between. It was/is just the way I budget spending money more comfortably.
@VirtualCuriosity wrote:
@TheFate wrote:Does a lender frown upon you for constantly charging and PIF multiple times throughout the month just to avoid going over your UTI?
I find myself doing this quite a bit with my QS card since it only has a $500 limit... I know others say its ok to max it out and pay it off before it reports but I dont charge more than 20% EVER. I'll just pay it off then charge another 20% then repeat. Could this affect future CLI's?
I often wondered about this. I would think that they don't care, so long as you are using their card? BUT, I am wondering since I did this with Discover and Chase for a year and they won't give a CLI, it does make me wonder more. I would pay in full every two weeks, sometimes even in between. It was/is just the way I budget spending money more comfortably.
It's seriously hard to predict how any lender will react to things in their data; however, they can and quite possibly will notice.
I'm not a fan of the multiple payments during a month (unless you're maxxing the card out multiple times, by all means PIF multiple times and badger the lender for a CLI while you're at it) as the vast majority of consumers simply don't do that.
That said, there's things that lenders hate a lot more, and I suspect this one is between somewhat and utterly trivial in comparison: maybe worth a *shrug* by an UW looking at it, but likely not much more than that though in an infinite universe and not knowing what their data shows, meh... I simply don't want lender attention and that's likely a peculiarity instrinsic to me: nothing to see here, exactly what you expect, move along!
Edit: on the plus side their data might show that you're at less risk of default, but if I had to guess, it probably is more indicative of paycheck to paycheck behavior.
I also have a low CL on my Cap 1 QS1. I am still rebuilding. I max the card out several times throughout the month and I PIF a minimum of 4x a month. I am hoping in Oct (6 mths) I get a nice CLI if not I will contact Cap 1 via FB. I have asked for cap 1 to increase my CL several times but I have to wait until I am out of the credit steps program.
To go along with what the OP was asking I have a spinoff question. I put as many auto pay options I could on my new cap 1 cards to show some action along with paying for everything with the plastic. Then each Monday I pay whatever the balance is down to $10 so the cards will report something. Is that a good philosphy? Or should I have them report more? The $10 is not even1% utilization, but it's something. So in all reality I'll be paying 4-5 times per month on each card. Thoughts?
Personal:
@Revelate wrote:
@VirtualCuriosity wrote:
@TheFate wrote:Does a lender frown upon you for constantly charging and PIF multiple times throughout the month just to avoid going over your UTI?
I find myself doing this quite a bit with my QS card since it only has a $500 limit... I know others say its ok to max it out and pay it off before it reports but I dont charge more than 20% EVER. I'll just pay it off then charge another 20% then repeat. Could this affect future CLI's?
I often wondered about this. I would think that they don't care, so long as you are using their card? BUT, I am wondering since I did this with Discover and Chase for a year and they won't give a CLI, it does make me wonder more. I would pay in full every two weeks, sometimes even in between. It was/is just the way I budget spending money more comfortably.
It's seriously hard to predict how any lender will react to things in their data; however, they can and quite possibly will notice.
I'm not a fan of the multiple payments during a month (unless you're maxxing the card out multiple times, by all means PIF multiple times and badger the lender for a CLI while you're at it) as the vast majority of consumers simply don't do that.
That said, there's things that lenders hate a lot more, and I suspect this one is between somewhat and utterly trivial in comparison: maybe worth a *shrug* by an UW looking at it, but likely not much more than that though in an infinite universe and not knowing what their data shows, meh... I simply don't want lender attention and that's likely a peculiarity instrinsic to me: nothing to see here, exactly what you expect, move along!
Edit: on the plus side their data might show that you're at less risk of default, but if I had to guess, it probably is more indicative of paycheck to paycheck behavior.
Good points and yes, we purely speculate. I will however disagree with multiple payments being indicitive of pay to pay behavior. If there is notice to be taken at least in my case and many others I read about, I think you are right. But, I think the reason may be more related to them recognizing who is only gaining rewards and not showing them luv in monthly charges.