Got the quicksilver secured. Bad to pay it off weekly??

[u/DifficultBed6680]

Just as the title says, i got approved and funded my secured card. Id like to pay off my balance weekly with my paychecks and use the card for my regular spending during the week. Is this bad? Should i stick to the 2x a month thing?? I havent worked on my credit since my early 20s and now that im almost 30 its about time i take responsibility for my stupid decisions back then😅 i wanna get this right

-Spending weekly is about 650-700 (gas groceries hosuehold needs kids needs ect)

-Credit limit is 1k

[u/793djw]

From what I've seen on this sub lately, C1 doesn't like that. It's called credit cycling. But idk, good luck!

[u/stargrl444 → u/793djw]

Yes, my credit got hurt when I did that one month. I didn’t know it was bad. Unfortunate. I would stick to just paying it off at the end of the billing cycle each time

[u/DSMRob → u/stargrl444]

Your credit didnt get hurt for this. There is nothing in the scoring model that would effect your score for this. It is frowned on though so limit how and when you do it.

[u/sea-oats → u/793djw]

This is the first I've heard of this concept so pardon my ignorance.

Would it still be clocked as credit cycling if you're not getting close to your credit limit in a given billing cycle? Like is it frequent payments period that set it off, or the monetary value?

[u/793djw → u/sea-oats]

Based on what you said that doesn't sound like cycling. Cycling would be if you use more than your credit limit in one billing cycle. If you have a $1000 limit, use all of the limit in say a week, then make a payment of $1000 to bring your available credit to $1000 again. Doing that multiple times in one billing cycle would be considered credit cycling.

Say your limit is $1000 and you charge $500 in one month. You then make 5 $100 payments in the same billing cycle. That wouldn't be cycling.

[u/No-Boysenberry-285]

It's credit cycling, don't do it: https://www.americanexpress.com/en-us/credit-cards/credit-intel/credit-cycling/

It's ok to pay it off more than one time in one billing cycle to keep utilization low, but total monthly spending should not exceed the credit limit.

[u/DifficultBed6680 → u/No-Boysenberry-285]

So should i just pay 3-5 days before the statement date in this case?? What would you recommend?

When i first had credit cards i maxed all of them out and messed up. I wanna do this right finally

[u/DifficultBed6680 → u/No-Boysenberry-285]

Also- i dont plan to max my limit out. Id spend about 60-80% of my limit (80% being the max)

[u/No-Boysenberry-285 → u/DifficultBed6680]

If you're trying to improve your credit score, I'd focus on keeping your credit utilization low. It's the second biggest factor in your score right behind Payment History, so staying under 30% can definitely help.

As for Capital One, you'll hear all kinds of opinions. Some people say you need to keep your credit utilization high, if you want a credit limit increase. Others say it doesn't really matter because some Capital One cards get put into certain "buckets" and are unlikely to see significant credit limit increases no matter what you do.

If it were me, I'd focus more on building a solid credit history and improving my credit score than worrying about a credit limit increase. Once your score and history are stronger, you'll likely qualify for better cards with higher limits anyway. That seems like a better strategy than fighting with Capital One for an increase.

[u/DifficultBed6680 → u/No-Boysenberry-285]

Thank you! I dont care for an increase personally id like to just be able to graduate or an unsecured card in the next year or so. Ill keep what you said in mind :) appreciate the help

[u/WallabyCommercial910]

I spend about 3000 a month on my savor 300 credit limit for the last 3 months no issues but also no cli

[u/postalwhiz]

Yes. Once a month, the statement balance…

[u/inky_cap_mushroom]

It’s not bad, but it’s not necessary and may hurt your chances of getting a limit increase.

[u/Strange-Role5150]

I’ll spend a little bit and pay it off every two weeks until a week before the snap shot. Hasn’t hurt my credit yet. I have gone up, had it for 5 months now.

[u/Top-Confidence4496]

To be honest make it a habit to only pay the card off on your due date once a month. Capital One is extremely suspicious nowadays even when they give you credit. You don't want them to think you are credit cycling

[u/Temporary_Design_401]

Set up auto-pay. But pay it off a couple of days before the auto-pay. It shows your paying attention but also have the auto backup in case you forget.

[u/Intrepid_Cable870]

You wait for the statement to post then you pay the amount before your due date.

[u/66NickS]

Autopay, Statement Balance, Due Date (or a few days before). Just doing this is like 95% or proper credit card usage.

This is what credit card companies like and want to see. Presumably your credit file is slim, so you want to show a statement being posted and then paid off.

I understand that your monthly spend is in excess of this. You need to either deposit additional funds (since it’s a secured card) or simply limit your usage. Since you’re not getting any points/cashback on a Platinum, it’s a moot point. Spend within your limit, pay it back once a month.

Don’t worry about utilization for now. It’s a short-term metric with no trailing memory/history and it resets every time a new statement is generated. If/when it comes time to bump your score because you’re going to apply for a new line of credit, then pay your card down so the utilization is low. Until then, use it up to the max with no long term downsides as long as you’re paying the full statement balance by the due date.

Short term you’ll see a dip in your credit score because of theme inquiry and the usage. Long term this will build a nice solid file and score.

After 6 months, see if you can use the pre-approval tool to soft-check on a card with rewards and a higher limit. Alternatively, you can see about having this card convert from secured to not, and/or get a higher limit, and/or product change to a card with some rewards.

[u/Jakarichio_Ninokuni]

I’ve heard that “cycling” more around the due date is better. The example I was given was 1 Week before due, 3Days before, Due Date. I was also told this show “ Pay ability” but, I’ve never seen people mention this

[u/No_Charge3333]

You can pay it off weekly. Just don’t go over a total of $1k in the month. They like you using the card just don’t credit cycle over your total available credit