I made a purchase with my BestBuy card last week. Needed a washer, and I got an extra 5% off plus an extra $24 worth of 'points' for using the BBuy card.
My statement cuts this coming Wednesday Aug 15, so I PIF today.
I'm still in credit rebuilding mode, so this was the right way to go about it, correct? I won't incur any interest charges, and my utilization won't increase, but the CRA will be able to see that I've utilized my credit. Responsibly.
Well phooey. I guess I did the right thing though, eh? I wanted that extra 5% off, and the extra $24 in points, plus I didn't want to pay any interest.
For some reason (even though it didn't seem logical to me) I'd gotten the impression that it would work the way I thought.
To the OP: I get paid twice a month. First thing I do on payday is sit down and check ALL of my accounts: Banks accounts, credit accounts, utilities, everything, to make sure everything is in order and to pay whatever needs to be paid. I also check the accounts on the in between payday weeks, just for the sake of good management and to make sure there are no surprises.
Ok, so that part is probably just me being my paranoid, hypervigilant self, but it doesn't hurt.
@saggy1 wrote:If your pay period ends on the 15th when is the best time to pay? In other words, after the pay period you are given a certain amount of time to pay your bill. Do you want to pay right before the bill is due? Or do you want to pay right before your pay period ends?
THX
For FICO scoring purposes you always want to pay your bill before the statement closing date, that date can be found by giving the creditor a call.
That's what I was thinking (and hoping).