Using limit. Paying and using limit.

[Anonymous]

Credit company still get money for swipes and use its just nothing compared to fees and interest. If you are a long time relationship and not reward chasing they are still happy to have you on board. If you bank there they invest your deposits. No worries.

[core]

A Wells Fargo "banker" (local branch?) may or may not know anything about their own credit card department and what they look for.  I would take the advice of a "banker" the same way I would some CSR from a foreign country: With a grain of salt.

I routinely cycle 15-20x my limit from some of my cards each month and haven't yet heard a peep from any of them.  Some I've got hefty CLI's from which I was not necessarily expecting.  Some "bankers" might not like it, but the algo's certainly do.  I don't yet have the WF card but when I do, I'll be doing some serious volume with them too.  If WF truly frowned on cycling your CL, then there wouldn't be so many positive threads on those "other boards" about this card.  All you'd see is shutdown complaints.  That is not the case currently.

[Anonymous]

Thank you all for the answers! That being said....when SHOULD I pay down my balances? I'm limiting myself to only using a certain amount of my balance a month anywya due to trying to budget better. However. I can afford to pay off what I charged 3 days ago. Should I? How often? I plan to have it to at least 9-10% by statement day but in the meantime is it okay to pay. It down often? How often is O.K with capital one?

[OmarGB9]

I pay as soon as transactions post whenever I can with cap1. Otherwise I make huge chunk payments well before the due date and/or PIF.

[Anonymous]

Some cards do not like this. Depends on the card. Cabela's Visa shut someone down for doing this and closed their account, I remember reading a post about it on here.

[Anonymous]

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@Anonymous wrote:
Teehee, I bet the people itching to appspree thought AXEM is one hipster card that slipped under the radar. Continue…

I personally am going to get an AXEM card right now. Sounds like one cool card!

[core]

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@Anonymous wrote:
How often is O.K with capital one?

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I pay Capital One 3 times a week.  Since payments tend to post before charges, this often results in a massive credit balance for 24 hours.  I have not had any problems.

I'd say pay Cap One whatever you want to pay and don't worry about it.  They are still a subprime lender as far as I'm concerned and they most certainly are not like the Amex hawks.  Cap One is lucky to have decent customers now (compared to the 90's) and they are not going to just terminate those good customers for silly payment frequency.

[Anonymous]

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@Anonymous wrote:
So, I had a Wells Fargo banker once tell me that cc companies frown on people who use their cards and pay. Only to use it again. I.e. if I had a $1000 limit.. Spent say $800 over the course of 2 weeks. Paid off 700. Then before the statement over the remaining 2 weeks used more. Up to the limit. Then PIF at end of month. She said that they view this as going "over limit" without actually being that. Is this true? Am I gonna be penalized if I feel like putting purchases on a CC instead of paying cash? Only to pay it down and reuse? Any help would be appreciated. Thank you all!!

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Keep doing what you're doing.  In general, credit card companies like this.  They get a percentage off all swipes you do.  They're making money every time you charge.  Paying in full before the statement cuts means they get all their money back.  Build up your credit experience or credit scores and ask them for a CLI!
 

[Anonymous]

I dont get WF.

I have a Corp Card, then we have 1 mortgage, 1 joint checking and I have 2 other accts with them. They "approved" me for $1000 for their Home Rewards card or whatever about 2 years ago. I decided to just put my electric bill and two other reoccurring bills on it to rack up points. I pay it off almost as soon as it posts cause the limit is only $1000. put $500 on it and its 50% used up.

I changed all of these to a card that has 20x the limit and just put WF on hold for all eternity. 

[Anonymous]

I dont even know why i would beleive anythign WF has said to me, they screwed me so hard in the last 3 years, opening & closing accounts, lying about fees and just plain terrible customer service in general. Funny thing, when i finally got fed up after fixing my Chexsystems report, they were all NOOO PLEASE DONT LEAVE US!!!! tried offering all sorts of things that i was told days before that COULDNT be done. so i smiled, and left forever.