I received an Ink with a limit of $3k. The first bill is due Jan 8. I need to spend $7500 in 3 months to received the bonus. I'm really perplexed as to how to do this without cycling. I have another Chase card with double that limit and then some. Very perplexed. Thoughts?
call and have some credit shifted over to your new card...
I also have a low credit limit on the ink and have been cycling. Is it better if i prepay it before the expenses hit, or are both terrible.Unfortunately I don't have enough credit to only utilize 30% of my credit limits, so I figured cycling on the Ink card is better since its a business card and doesnt show up on my credit report. Opinions?
this is my only chase cc. my other 2 personal ones are with citi and capital one.. and they have 8k total which is only 2k if you are using 25 to 30% thats not enough for me.. I charge over 10k a month.
Mostly only chase
if you can pay it before the statement closes then it dosent matter if you use all 8k. It won't affect you credit as long as your statement closes with low utilization.
is that true? I thought cycling was bad for your credit/ relationship with Chase.
Also, specifically with Chase, you don't have to worry about it closing with too high of a utilitization. Chase reports whenever you pay up your balance, so as long as you pay it before applying for new credit it doesn't matter what it closed at .
Wrong. Having a high credit utilization will drop your score,
Wrong. Having a high credit utilization will drop your score, often my a very large number. Once your report updates with a lower utilization ratio, you're score will start to go back up but it won't usually return to the same place it was before right away.
I stand corrected. And yes, that's the reason not to do the $2 trick with a chase card.