I just wanted to point to something @Aim_High said. On a lower limit card like yours cycling it a few times per month will probably not have any negative effects. Now if you were to do that with a higher limit card you may spook the lender and lead to adverse action. Something to think about.
@MikeyMagic wrote:
@mryflyguy wrote:You're never going to get a high limit on a Capital One account that started with $300 limit because the account is bucketed forever.
If you cycle through the balance several times a month this may spook the lender. Just spend $5-10 on the accoun a month, set it to autopay the full balance, and once you've had it 7-8 months apply for a 2nd card from a better bank.
Using my paltry $300 CL a few times and paying it off as well a couple times will "spook the lender"? Are you sure? I've never read that and you are the first one who had told me that.
Now I am nervous. I'm spending $600-$800 a month on that card so far and I've had it for 6 weeks. Now I am confused and worried.
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@Rogue46 wrote:I just wanted to point to something @Aim_High said. On a lower limit card like yours cycling it a few times per month will probably not have any negative effects. Now if you were to do that with a higher limit card you may spook the lender and lead to adverse action. Something to think about.
^ This, @MikeyMagic. I wouldn't be overly concerned or absolutely stop any cycling of a lower-limit card if you need that credit limit for normal spend. At a $300 limit, I doubt you'd have issues with Capital One. I just wouldn't intentionally charge more than you need to for normal monthly cash flow and in the future with higher limit cards, recognize that some lenders may frown on credit-cycling.
