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Maybe, but I think that factor is over blown by many. Same with a credit inquiry. The bulk of the score has got to be made up based on not missing a payment. If you don't miss payments then the occasional higher balance reported or that extra inquiry on your credit shouldn't make or break a person. I would think that goes for both the person rebuilding their credit and are in the low to mid 600s or the quality credit people with a score of 750 and up.
I mostly do it that way just to make sure I don't forget to make a payment. Haven't so far.
It depends on the bank reporting it. They will report the balance at the time they pull the info from the account. If you consistently pay it off in full and timing wise it always happens to be a $0 balance then the report would reflect a $0 balance and there is nothing on the credit report that would indicate that you even used the card.Walking Boot said:
Typically yes, the balance reported is the statement balance.dino259 said:
I also pay my credit card bill weekly, usually I overpay it significantly (just a few GR) because i'm essentially using it like a debit card, but with massive rewards.
Correct.
It takes like 30 seconds. I do it when I am on the computer and happen to think about it.
I mean go to doctorofcredit, follow the guides, profit.
Here is one of those threads: https://forums.footballguys.com/forum/topic/742472-credit-cards/
It's a hobby, and takes time. It pays back in free travel, and cash. There are those that go to stores daily to buy gift cards to turn them into money orders. That is work.
If you have a wife, in your first year you can pull down a half million Chase UR points without really even trying. Those are valued at a minimum of 1.5c per point. That's if you stay super casual.So how big of a payoff we talkin about here with all this? 30 minutes a month is nothing obviously. We are all on this website much more than that
I’ve been all in on EM for the past two years. There is no other asset class I’d rather be in, especially if we’re talking retirement assets (>5-10 years). EM is in a much better spot than it was a year or so ago. Macro fundamentals have improved and will continue to do so.
Again, this will vary depending on your goals. This is the best guide out there for getting started.
This is shooting low. I'm looking for 600-900 minimum for 3k spent. 1200 for 5k.
Amex is king for cash back. There are lots of manufacturable spend options out there, but they take work and diminish total returns for sure.
I was gonna say, I hope you're done going through Chase cards... I've done Chase the super casual way and have 400k right now. i even kept the reserve card - with my travel it pays off.
Ya. Just now getting into this. You finding these at doc? If you are an investor and keep cash I mean the yield on these bonuses is easily 5 or 6 %
Yes, doctorofcredit is my bible. I do not have the spare cash money to do the big deposit types.
What do you do for the direct deposit? Do you move your paycheck or submit a different ACH?
Down payment. Its like a 401 k loan. Interest just pays to self. At the time I was fully invested and didn't want to take a cap gain tax hit when I had liquid money I could get tax free.
If it were me I would pay for an expert evaluation.
Depends on the bank. Paycheck DD always works and is the safest, but sometimes ACHing from your credit union or other bank works, too.
You might be the first person I've heard of who likes loaning the credit card companies money.
I'm going to have to check this out.
If cash back is the play the solution is to mine cards that give you the option to cash out the points. If under 5/24 you can still cash out Chase SW cards to Amazon, but not at a great value but it is an option. Amex cards port to Schwab at 1.25cpp. With a combination of Amex MR cards you can categorize spending to get earn rates that easily approach that, but the signup bonuses approach closer to 17-20% cash back on those terms. Amex usually has lifetime language baked in to their cards, but not always.
It's a matter of loaning it to them for a few days at a time.. and i wasn't earning any interest on it anyways.
