multiple payments in one month to increase the score

[myfarouco]

many of you already know multiple payment in the same month increase the score , but not all credit cards accepts multiple payments , can you list which accepts this aand which don t 

[Varsity_Lu]

I pay weekly on AmEx and Cap One.

[Jnbmom]

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@myfarouco wrote:

many of you already know multiple payment in the same month increase the score , but not all credit cards accepts multiple payments , can you list which accepts this aand which don t 

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Making multiple payments does not always cause a score increase, not sure where you got that from . Many creditors take multiple payments but won't update every time you pay as most report monthly.

[NoMoreE46]

This is a very general, unqualified statement.

I will argue this is NOT a typical/traditional way to raise one's FICO score with in a month.     

Some issuers tend to limit to five pulls per cycle like TD.  If the source DDA bank and the issuer are the same,  the number of payments are usually not limited. 

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@myfarouco wrote:

many of you already know multiple payment in the same month increase the score , but not all credit cards accepts multiple payments , can you list which accepts this aand which don t 

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[Kforce]

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@myfarouco wrote:

Many of you already know multiple payment in the same month increase the score ,

but not all credit cards accepts multiple payments , can you list which accepts

this and which don't?

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As @Jnbmom  and @NoMoreE46  posted, multiple payments do not necessarily have a correlation to score.

However paying at the correct time, and amount to control what reports can, depending

on many factors.

To answer the question of issuers that allow multiple payments.

I will let others post personal experiences.

I believe 90+% allow at least 4 payments a month.

Most only allow you to pay up to the current balance.

A few do allow a little extra to be paid.

A few give instant credit for the payment, others take a few days.

I switched from using each issuers web/app for paying cards 12+ year's ago.

I found it superior in many ways to use my CU checking billpay service.

*

1 )  It lets me label each cards name to have a clear, in one location, list of my payments.

      ( Not some strange unknown labeled charge being shown)

2)  No AA or harm if I enter a wrong number when setting up the account.

      (Danger when adding your pull account on each issuers site)

3)  Impossible to pay without funds.

      (Account won't let you pay if you don't have the money)

4) Lets you pay when and how much you want no matter the balance.

      (Bypasses the limits of issuers web page.

     You can owe  $500 and pay $1,000, cover pending and future

      spend and let a zero balance report.)

5) * Have found a couple of CU's that don't billpay by "ACH", which 

         led me to find better cards from other issuers.

6)  Cards that allow Billpay service and use "ACH" for payments.

        (No physical check sent by US Postal Service)

        Barclays, Wescom CU, First City CU, Citi,  Amex, BMO,

       FNBO, Discover, AOD, USBank/Elan.

[myfarouco]

dda bank? meaning?

[Snook_on_the_Line]

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@myfarouco wrote:

dda bank? meaning?

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Demand deposit account.     

the bank you have your checking account with that you are drawing your payment from.  

i e       If your checking is with Wells Fargo and you have the WF active cash card there would be no limit to the amount of times you could pay your card in a month. 

[FicoMike0]

@Kforce  I like that idea of using billpay, I think I'll try it, thanks!

I think the idea of raising you score by making more frequent payments is that it reduces your utilization. Myself, when I want my best score, I go in a day or two before post date and pay to whatever balance I want to post. Some may not know, or care, when their post date is. 

[ElvisCaprice]

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@myfarouco wrote:

many of you already know multiple payment in the same month increase the score , but not all credit cards accepts multiple payments , can you list which accepts this aand which don t 

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Nope, no reason too.   Nothing to gain, just pay once before statement date, to lower utilization reported or after on due date to take advantage of max time holding cash to bear interest.  

I use my 1% CB debit card account via paypal bill pay to the upmost for further CB.  Otherwise pay direct, ACH.  YMMV, I keep my active CC bills to a minimum, along with open accounts.  

[markhs777]

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@myfarouco wrote:

many of you already know multiple payment in the same month increase the score , but not all credit cards accepts multiple payments , can you list which accepts this aand which don t 

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To make it simple FI's report to the CRA's once a month and the CRA's have no idea how many  individual payments were made during a particular cycle only the bottom line balance on a particular date.  One or ten payments equals the same result score wise.