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re: How often do you pay your CC balance?
Posted on 12/10/22 at 11:05 pm to Billy Blanks
Posted on 12/10/22 at 11:05 pm to Billy Blanks
You shouldn't need a credit card. Use cash. No need for a credit card. It's rat poison.
This post was edited on 12/10/22 at 11:06 pm
2
Posted on 12/11/22 at 8:07 am to Ostrich
quote:
I also keep an excel file in which I track every single transaction I make, daily changes to brokerage accounts, etc. It takes some work, but I enjoy it, and have found that I've made bigger strides in my net worth since doing all this than before when I was just winging it.
I keep a file, as well. We have a small business, and it's part of the normal record keeping for us. I also can trend and forecast what we spend over time a little easier with the data. Since it's multiple CCs with certain spend on each, you can tell which category is spending high. I did this before we had a business, as I used to do MS for travel. Now, it's just a leftover system that works very well for us. We also pay down twice a month because things in life come up that can push a single day out a few days and cause an issue (don't ask me how I know).
Posted on 12/11/22 at 8:23 am to Billy Blanks
Wife and I use one card for points. I have an app and monitor periodically, usually twice a week or so to make sure there are no fraudulent charges or anything. I usually make two or three payments a month when I’m checking it, but always pay it before it’s due. Takes all of about 30 seconds and makes me keep up with my spending. Works for me.
Posted on 12/11/22 at 8:46 am to Billzbobo
quote:
You shouldn't need a credit card. Use cash. No need for a credit card. It's rat poison.
In just the last decade or so, credit card points have resulted in roughly $20k worth of travel for my wife and me. I’ve never paid a single cent in interest. They may be rat poison for the ignorant or those utterly lacking in self control, but they are an incredible financial tool for the rest of us.
Posted on 12/11/22 at 8:56 am to Billzbobo
quote:
You shouldn't need a credit card. Use cash. No need for a credit card. It's rat poison.
I would never and i mean never use my debit card for anything. It is trash that offers no protection.
A few benefits I get from credit card use. I could make a much bigger list
- Free hotels
- Free Flights
- Free upgrades
- Free Travel Insurance
I have not paid for a flight or a hotel in at least 3 years. I've taken 4 sugar babies to cancun for free. I mean shite the list is endless.
LINK
This post was edited on 12/11/22 at 8:58 am
Posted on 12/11/22 at 9:04 am to Billy Blanks
I try to keep mine paid down under 30%, I think it helps your credit to carry some small CC debt 25-30% of available.
I may be wrong
I may be wrong
Posted on 12/11/22 at 9:12 am to Billy Blanks
quote:
That'd drive me crazy.
are you serious? You have to be insane to be paying off your cc every day. Wtf is wrong with you.
Just pay after statement(if your usage % isn't wild) and before due date (next cycle). And you won't have to worry about interest.
If your usage % is crazy, just pay it off before the statement
Posted on 12/11/22 at 12:29 pm to Billy Blanks
I pay my bill off in full as soon as the monthly statement hits.
I’m not helicoptering over my accounts like that.
I’ve got gifs to peruse.
I’m not helicoptering over my accounts like that.
I’ve got gifs to peruse.
Posted on 12/11/22 at 7:26 pm to canyon
quote:
We have a MC from a credit union with an incredible low interest rate of about 7.5. We pay off monthly UNLESS we have a big unexpected expenditure. Use the points built up for flights down the road.
I’ve heard worse ideas. But not many.
Posted on 12/11/22 at 9:41 pm to Billy Blanks
End of the month, one call that’s all. Haven’t paid a nickels interest in a coons age. Had one issue with a hack but a few phone calls and it was handled
Posted on 12/11/22 at 10:34 pm to Billy Blanks
How do you pay it off daily if it’s a pending charge? That doesn’t make sense
This post was edited on 12/11/22 at 10:35 pm
Posted on 12/11/22 at 11:06 pm to HtxDr
quote:
How do you pay it off daily if it’s a pending charge? That doesn’t make sense
I don't pay delay but will pay the pending if they let me lol
Posted on 12/12/22 at 10:03 am to thelawnwranglers
I pay off my CC a few times a week. I use it for everything and love getting the cashback or points depending on the card I use. Haven't paid for a hotel in years and most of my flights are paid with points. Going on my honeymoon next month and the whole thing was almost paid in points.
Posted on 12/12/22 at 10:13 am to Billy Blanks
quote:
I go in and pay it off daily.
You're legitimately crazy.
Having said that, when I get paid, I pay off the cards. Period.
Posted on 12/12/22 at 11:00 am to Ace Midnight
I'm going to give the once a month payment a spin. I think it will help me keep track of spending better than doing like 20-25 payments a month.
Posted on 12/12/22 at 12:12 pm to Billy Blanks
Join team spreadsheet
Posted on 12/12/22 at 4:13 pm to Billy Blanks
Every two or three days to categorize on YNAb.
Posted on 12/12/22 at 4:15 pm to UltimaParadox
quote:
Not sure why you would pay it off daily, seems like a lot of work.
I had never even heard of such tomfoolery.
I can't believe there are people who actually do such a thing. That's wild to me.
Posted on 12/12/22 at 4:43 pm to frankthetank
quote:
I run every expense through my card, and pay it off each month.
This is the only correct answer.
just find a card that suits your needs in terms of rewards/points.
cash back, disney, airline miles, etc.
for me its Cabelas/Bass Pro points.
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