Author Topic: Paying Credit Card Before Statement Closes  (Read 6280 times)

Offline lyla

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Re: Paying Credit Card Before Statement Closes
« Reply #40 on: June 04, 2013, 11:05:46 PM »
You spoke of transferring credit line. I took that to mean doing so while leaving the card open, to which i replied that you can't easily transfer the CL of a charge card. Now you're saying you closed the card to open the other, which is common practice.
I went back and reread my post and you were right, I did not clarify that I closed the ink bold when I got approved for the ink plus. Sorry for the confusion. The annual fee was going to hit in June and I didn't want to get hit with it. I asked Dan at the Brooklyn seminar If I should do what I did (apply for plus and close bold after recon moved line) and he said that "yes that would work" and it did.

Offline Shmulyg

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Re: Paying Credit Card Before Statement Closes
« Reply #41 on: June 05, 2013, 12:03:44 AM »
I went back and reread my post and you were right, I did not clarify that I closed the ink bold when I got approved for the ink plus. Sorry for the confusion. The annual fee was going to hit in June and I didn't want to get hit with it. I asked Dan at the Brooklyn seminar If I should do what I did (apply for plus and close bold after recon moved line) and he said that "yes that would work" and it did.
I harbor no hard feelings... :)

Offline lyla

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Re: Paying Credit Card Before Statement Closes
« Reply #42 on: June 05, 2013, 12:06:40 AM »
I harbor no hard feelings... :)
Thank you.

Offline TDweck

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Re: Paying Credit Card Before Statement Closes
« Reply #43 on: June 05, 2013, 02:18:15 PM »
Im a little unclear here.  The gist I have gotten is don't pay early on Chase.  What about AMEX?  I vaguly remember reading a post by dan that said its ok to pay some mid statement.

 I have a low CL on my SPG biz and im sitting at 45% utilized.  I don't want an FR

Do I have to wait until it closes or can I pay some and keep spending until the statment closes?

Online ckmk47

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Re: Paying Credit Card Before Statement Closes
« Reply #44 on: June 05, 2013, 03:48:03 PM »
Im a little unclear here.  The gist I have gotten is don't pay early on Chase.  What about AMEX?  I vaguly remember reading a post by dan that said its ok to pay some mid statement.

I think the gist is:  Don't pay early and then spend up a storm within the same billing cycle. On chase.

I have a low CL on my SPG biz and im sitting at 45% utilized.  I don't want an FR

Do I have to wait until it closes or can I pay some and keep spending until the statment closes?

On chase this would be a red flag.  On AMEX , anyone?
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Offline lyla

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Re: Paying Credit Card Before Statement Closes
« Reply #45 on: June 05, 2013, 09:31:51 PM »
Im a little unclear here.  The gist I have gotten is don't pay early on Chase. 
Where did you get that idea?

Offline TDweck

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Re: Paying Credit Card Before Statement Closes
« Reply #46 on: June 05, 2013, 10:29:12 PM »
Aparently for the plum card, Amex offers a 1.5% discount for early paying.  I have to assume that means they Encourage early pay, at least for a biz card, no?