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re: If my credit card only has a $500 limit...
Posted on 9/6/11 at 11:34 pm to Will Cover
Posted on 9/6/11 at 11:34 pm to Will Cover
quote:
I recently bit the bullet and applied for a PenFed rewards credit card since USAA is no longer offering cash back to its checking account members.
I have that card too great card.
quote:
I haven't received my bill, but thus far, I have already made 4 payments. A bit overkill?
You are losing money doing this. That money could be working for you in some sort of interest producing account.
2
Posted on 9/6/11 at 11:55 pm to OH 58D
quote:
That money could be working for you in some sort of interest producing account.
Not worth it in this interest rate environment. If you had $500 in an account paying 5% interest (which is waaaay higher than you'll find) that's only $25 a year. Literally beer money.
If we were talking about a million+ dollar account, sure.
Posted on 9/7/11 at 6:17 am to OH 58D
quote:
You are losing money doing this. That money could be working for you in some sort of interest producing account.
It's just money out of my checking account and you know what kind of rates consumers are getting these days.
For me, it's still peace of mind - any potential interest could easily be lost if I lose track of the bill's due date - which could certainly happen in my situation.
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